Canada January Trade Deficit Narrows to C$1.91 Billion
By Paul Vieira
OTTAWA--Canadian exports and imports fell sharply in January, continuing a disappointing run of indicators for an economy on edge due to heightened trade-policy uncertainty.
Canada's merchandise trade deficit in January narrowed from the previous month to a seasonally adjusted 1.91 billion Canadian dollars ($1.47 billion), Statistics Canada said Wednesday. The deficit came in better than the market consensus for a C$2.5 billion shortfall, according to economists at Royal Bank of Canada. The trade deficit for December was revised slightly lower, to C$3.05 billion.
The narrower trade deficit in January, however, was due to a steep deterioration in imports.
After hitting a record level in the previous month, imports plunged 4.3% in January to C$47.75 billion, with declines in all components tracked. Exports, meanwhile, fell 2.1% to C$45.84 billion, also on broad-based decreases.
On a price-adjusted, or volume, basis, imports fell 3.9%. Export volumes, meanwhile, dropped 3.6% -- or the biggest such decline in four years, the data agency said.
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(END) Dow Jones Newswires
March 07, 2018 08:45 ET (13:45 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.