Canada Trade balance

The exports came in at 42.98B vs 43.1 last month

Imports at 45.74 vs. 46.11 last month.

  • Exports fell for the third straight month.
  • The deficit of -2.76 billion exceeded the highest estimate of 2.3 billion
  • The prior month deficit was posted to -2.32B from -1.73 billion
  • The record was -3.6B set in March

Oil shipments are a big drag as prices continue to be a hinderance. At the same time, manufacturers have been slow to take advantage of a weaker currency and US recovery.

Exports fell 1.8% to 43B. The weakness was largely concentrated with trade to the US. Shipments fell in 10 of 11 categories.

Imports fell 0.8% to 45.7 billion.

Not a good picture for the Canada trade. PS employment was not great either as employment fell by -35.7K vs an estimate of -9.7K.