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Canada trade deficit up in January

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Christian Fernsby ▼ | March 8, 2020
Canada's international trade deficit rose to 1.5 billion Canadian dollars (about 1.1 billion U.S. dollars) in January from 732 million in December 2019, according to Statistics Canada.
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Total exports fell 2.0 percent in January to 48.1 billion Canadian dollars, with nine of 11 product sections posting declines. In real or volume terms, exports were down 3.1 percent.

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Exports of motor vehicles and parts registered the largest decline in January, down 4.1 percent to 7.3 billion Canadian dollars, the lowest level since May 2018.

Exports of energy products were down 1.7 percent in January, mainly on decreased exports of natural gas, which plunged 26.2 percent.

Total imports were down 0.5 percent in January to 49.6 billion Canadian dollars. Imports of consumer goods posted the largest decline, dropping 6.3 percent on lower imports of pharmaceutical products.