Canada’s merchandise imports edged up 0.1% while exports were unchanged in November, bringing our trade deficit with the world from $908 million in October to $940 million.
Trade between Canada and Belgium
Concerning trade with Belgium, Canadian exports amounted to $200 million in September but went down to $152 million in October, then back up to $161 million in November. Canadian imports from Belgium, on their side, amounted to $179 million in September, were up slightly at $180 million in October and up again to $190 million in November. As we can see, our bilateral trade has ups and downs and it will be interesting to see its evolution in the months ahead.
In Canada, imports edged up to $40.7 billion, with increases in most sections almost offset by large decreases in basic and industrial chemical, plastic and rubber products, as well as in energy products. Exports were unchanged at $39.8 billion. Basic and industrial chemical, plastic and rubber products; energy products; industrial machinery, equipment and parts; and consumer goods recorded the largest declines in exports while motor vehicles and parts had the largest increase.
Imports from the United States grew 2% to $27.2 billion, led by higher imports of aircraft. Exports to the United States were up 0.6% to $30 billion, with motor vehicles and parts being the main contributor. Consequently, our trade surplus with the United States narrowed from $3.1 billion in October to $2.8 billion in November.
Imports from countries other than the United States fell 3.6% to $13.5 billion. There were widespread declines among the principal trading areas, with the largest occurring for “all other countries” (-4%). Exports to countries other than the United States declined 2% to $9.8 billion, with the European Union (-6.4%) recording the largest decline. As a result, Canada’s trade deficit with countries other than the United States narrowed from $4 billion to $3.7 billion.
How about south of the border ?
The U.S. international trade deficit decreased from $39.3 billion in October to $34.3 billion in November, as exports increased and imports decreased. The increase in exports came mainly from industrial supplies and materials, capital goods and automotive vehicles, parts and engines, while decreases occurred in consumer goods and foods, feeds, and beverages. The decrease in imports came from industrial supplies and materials, foods, feeds and beverages and consumer goods while automotive vehicles, parts and engines and capital goods went up. The U.S. deficit with the European Union and China decreased.
Christian Sivière Christian.siviere@videotron.ca All Rights Reserved January 2014
Sources: Statistics Canada, U.S. Census Bureau
Canadian exports and import
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