Canada posts $1.4B trade deficit in May as imports rose and exports fell

OTTAWA – Statistics Canada says the country posted a merchandise trade deficit of $ 1.4 billion in May as imports rose and exports fell.

The agency says the result followed a revised surplus of $ 462 million in April compared with an initial reading of a surplus of $ 594 million.

Total imports increased 2.1 per cent to $ 50.9 billion in May as imports of metal and non-metallic mineral products climbed 17.7 per cent.

Meanwhile, total exports fell 1.6 per cent to $ 49.5 billion in May.

Exports of consumer goods dropped 8.8 per cent, while exports of motor vehicles and parts fell 5.8 per cent.

In volume terms, imports rose 2.5 per cent in May and exports fell 3.1 per cent.

This report by The Canadian Press was first published July 2, 2021.

TORONTO STAR