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Canada's international trade

Canadian trade deficit contracts

Fri, 11/13/2009 - 21:54 by harsheeb

Ottawa -- Canada's international trade deficit shrank in September based on a 3.5 percent increase in exports, Statistics Canada reported from Ottawa Friday.

The agency said although there was little change in imports, the export increase narrowed the trade deficit to $927 million from $2 billion in August.

"Exports rose by $1 billion to $30.3 billion in September, as volumes increased 4.5 percent," StatsCan said. "Imports edged down 0.1 percent to $31.2 billion, as volumes fell 0.8 percent."

Exports to the United States increased 0.5 percent while imports grew 1.7 percent. Exports to other countries, particularly to European Union members, rose 12.4 percent.

Canada's international trade mixed in 2008

Fri, 04/03/2009 - 22:38 by Shruti Sharma

Ottawa -- Canada exported $489.5 billion of merchandise to other countries in 2008, an increase of 5.7 percent from 2007, Statistics Canada reported Friday.

In its annual summary, the federal agency said imports rose 6.7 percent to $442.8 billion.

"Canada's trade surplus with the United States increased to $89.1 billion from $86.3 billion in 2007, following two years of decline," StatsCan said.

Canada's exports to Brazil increased 70.7 percent from 2007, led by potash, coal and newsprint. Japan replaced China as Canada's second largest export destination, with a 20.2 percent increase to $11.1 billion, compared with a 9.1 percent gain to China worth $10.4 billion, the agency said.

Canadian foreign trade down in January

Fri, 03/13/2009 - 21:56 by Shruti Sharma

Ottawa -- Canada's international trade took a battering in January, with exports falling 9 percent and imports off 7.9 percent, Statistics Canada reported Friday.

Exports totaled $31.7 billion, while imports were valued at $32.7 billion, the agency said.

That widened Canada's international trade deficit to $993 million in January from $652 million in December 2008, StatsCan said.

"Exports to the United States fell 8.9 percent to $23.3 billion, largely reflecting drops in automotive products and crude petroleum," the report said.

With an 8.4 percent decrease in imports from the United States, Canada's trade deficit shrank to $3 billion in January 2009 from $3.4 billion in December.

Exports to all other countries fell 9.3 percent while imports decreased 7 percent, leaving Canada's trade deficit at $4 billion, virtually unchanged from December, the report said.