Canada December trade balance -$0.16B vs -$0.5B expected

• Prior was -$0.04B (revised to -$0.22B)
• Exports $62.97B vs $64.37B prior -- lowest since Feb 2022
• Imports $63.13B vs $64.41B prior -- lowest since March 2022
• Canada's trade deficit with countries other than the United States narrowed from $7.3 billion in November to $7.1 billion in December.

Exports fell mostly on lower exports of energy products while imports declined on consumer goods. Canadian crude exports fell mostly on lower oil prices but also because of the shutdown of the Keystone pipeline in the US after a spill. Excluding energy, exports rose 0.8%. Much of the drop in imports was due to lower pharma trade in part to lower demand for vaccines and covid-19 Covid-19 Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Read this Term treatments.