Canada's trade deficit widened to $2.8B in May ahead of tariffs

Exports increased $84.5 billion or 8.8 percent. Deficit widened to CAD 2.8 billion from a slightly revised CAD 1.90 billion in April.

"The U.S. trade deficit dropped in May to the lowest level in 19 months as U.S. exports rose to a record level", says ABC News. After struggling through the middle part of previous year, exports had seen a revival in recent months due to a run-up in oil prices and stronger demand for non-energy exports.

Canada's trade surplus with the United States narrowed from Can$3.7 billion in April to Can$3.3 billion in May. Most of the rise was accounted for by the delivery of several airliners from the United States.

About 74.2 per cent of all Canadian goods exported in May went to the U.S.

Exports slipped by 0.1 percent as shipments of motor vehicle and parts fell by 3.6 percent amid a disruption in the supply of auto parts from a plant in the United States.


"Turning to exports, delayed deliveries of engines and other auto parts from the US suppliers created bottlenecks at Canadian assembly lines and hampered global shipments in the motor vehicles/parts category".

May imports were $258.4 billion, $1.1 billion more than April imports.

"Imports from countries other than the United States rose 2.9 per cent in May to $18.5 billion", the agency said.

Exports fell 0.1 per cent during the month, the first decline since January, Statistics Canada reported Friday from Ottawa.

Canada in May imported 2.9 percent more goods from countries other than the United States, its leading trade partner.

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