OTTAWA - Canada’s trade deficit widened to Can$2 billion (US$2 billion) in November as imports rose and exports fell slightly, the government’s statistics agency said.
The eighth consecutive monthly deficit was up from a revised Can$552 million in October, according to Statistics Canada.
Exports declined 0.9 per cent to Can$37.5 billion, as foreign sales of canola and other crops fell. Imports rose 2.7 per cent to Can$39.5 billion led by higher volumes of cell phones. Sales of motor vehicles, automotive parts, unwrought precious metals and precious metal alloys were also up.
Canadians sold more lubricants and other petroleum products, dyes and pigments, as well as petrochemicals, abroad in November. The country imported less gasoline but more basic chemicals.
Exports to the United States, Canada’s largest trading partner, meanwhile, grew 3.9 per cent to Can$28.3 billion, while imports from the United States rose for a third month in a row to Can$25.0 billion.
Consequently, Canada’s trade surplus with the United States increased from Can$2.7 billion in October to Can$3.3 billion in November.