Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Canada's December Trade Deficit Widens to C$1.66 billion on Record ImportsThursday, February 06, 2014 > 09:41:20
Canada posted a much larger-than-expected trade deficit of C$1.66 billion ($1.49 billion) in December, the biggest gap since November 2012, as imports hit a record because of higher prices, Statistics Canada data indicated on Thursday. November's gap was also revised sharply upward.
The deteriorating trade balance came despite a fall in the volume of imports and a rise in the volume of exports. Import prices rose 1.6%, partly because of the weaker Canadian dollar, while volumes fell 0.4%. Export volumes rose by 0.8% while prices rose 0.1%.
NOTE: Analysts surveyed by Reuters had on average forecast a trade deficit of $700 million in December. They expected exports worth C$40.25 billion and imports of C$41.00 billion.