The May drop follows a big jump in April, as the trade war with the U.S. started to show up in the data.
May drop follows big jump in April as trade war started to show up in data
CBC News ·
Canada’s merchandise trade deficit narrowed to $5.9 billion in May, according to data from Statistics Canada, after hitting a record high in April. (CBC News)
Canada’s merchandise trade deficit narrowed to $5.9 billion in May, according to data from Statistics Canada, after hitting a record high in April.
The country’s exports rose by 1.1 per cent, after falling steeply by 11 per cent the month prior. It also marked the first increase in exports in four months.
Overall, imports were down for the third month in a row, falling by 1.6 per cent, according to Statistics Canada.
In April, Canada’s trade deficit ballooned to$7.1 billion, from $2.3 billion in March.
