Canadian trade balance moves into deficit
- Prior report plus C$3.13 billion
- Exports C$57.61B.
- Imports C$57.75B. Third consecutive monthly increase with gains in eight of the 11 products sectors
- export to fell -0.9%
- imports rose +3.7%
- non-energy exports were up 0.7% in December
- exports of energy products felt -5.9% in December which was the first monthly decline since April. Crude oil exports came in at -5.0% and was the major contributor to the decrease. The decline was helped by a sharp decline in prices.
- Consumer goods rose 4.3% primarily on stronger exports of pharmaceutical products (+16.5%)
- Imports from countries other than United States rose 6.6% in December
- China +9.3%
- Exports to countries other the United States were up 0.6%
- Exports the United States fell -1.4% after a 7.0% gain in October and a 5.9% gain in November
- imports from United States rose 2.1%. That was the third consecutive monthly increase
- Canada's trade surplus with the United States narrowed from $9.5 billion to $8.1 billion in December
- For the quarter exports rose 7.1%, while imports rose 5.9%
- The export of energy products +17.6% were responsible for more than half of the quarterly increase. Exports of motor vehicle parts rose 15.5% and consumer goods rose +7.4%
- The imports for the quarter rose for the six consecutive quarter. Imports of goods rose by 9.2%, and motor vehicle parts increased by 12.1%
- The quarterly merchandise trade surplus widened from $2.1 billion in the third 3:45 $0.1 billion in the fourth quarter
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