Canada’s Trade Surplus Narrows
Both exports and imports were down marginally in April, but Canada still sold $2.2 billion (Canadian) more in goods than it purchased, the government’s Statistics Canada said.
The agency said total exports in April were $10.1 billion, down $280 million from the previous month. The bulk of the difference was caused by a sharp drop in exports of coal, which decreased by $140 million.
Imports fell $205 million to $7.9 billion, reversing an increase in March and returning to the level set in December, 1984. A decline in auto imports totaling $124 million accounted for almost half the import drop.
Statistics Canada says that, although exports dropped in April, the short-term trend shows a steady increase of about 2% a month. This growth is mainly in the energy sector, with exports of crude oil and of refined oil growing at more than 10% a month.