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Canada's trade deficit down

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Christian Fernsby |
Canada's exports rose
Canadian businesses   Canada's foreign trade deficit narrowed from 2.3 billion Canadian dollars

Canada's exports rose 1.3 percent in April while imports fell 1.4 percent, according to Statistics Canada on Thursday.

Canada's foreign trade deficit narrowed from 2.3 billion Canadian dollars (about 1.7 billion U.S. dollars) in March to 966 million Canadian dollars (745 million U.S. dollars) in April, the lowest deficit since October 2018.

After a 4.4 percent increase in March, total exports were up 1.3 percent to 50.7 billion Canadian dollars (38 billion U.S. dollars) in April while total imports were down 1.4 percent to 51.7billion Canadian dollars (38.6 billion U.S. dollars).

Increasing exports and falling imports helped shrink Canada's trade deficit in goods. It is believed to be the latest sign that Canadian economy is recovering from a slowdown.

The Bank of Canada announced to keep its interest rate at 1.75 percent on May 31 as the country's economic weakness was temporary.


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