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A cargo ship loaded with containers bound for Vancouver's port makes its way under the Lions Gate Bridge. (JOHN LEHMANN/GLOBE AND MAIL)
A cargo ship loaded with containers bound for Vancouver's port makes its way under the Lions Gate Bridge. (JOHN LEHMANN/GLOBE AND MAIL)

Canada's trade deficit moves to surplus Add to ...

Canada's merchandise exports declined one per cent while imports fell 2.2 in April.

Statistics Canada says the declines were the result of lower prices.

The agency reports export and import volumes rose for a third straight month, though at a slower pace than in the previous two months.

Canada's trade balance with the world went to a surplus of $175-million in April from a deficit of $236-million in March.

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Exports decreased to $32.9-billion in April from $33.3-billion in March.

Export prices fell 1.4 per cent while volumes grew 0.4.

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Industrial goods and materials accounted for three-quarters of the decline in exports. Widespread gains in exports of machinery and equipment moderated the overall decrease.

Following two months of growth, imports declined from $33.5-billion in March to $32.8-billion in April, as import prices fell 2.4 per cent and volumes grew 0.2 per cent.

Statscan says the decrease in overall imports in April reflected declines in industrial goods and materials and, to a lesser extent, in other consumer goods, and machinery and equipment.

Exports to the United States rose 0.7 per cent while imports grew 0.9. As a result, Canada's trade surplus with the United States remained at $3.8-billion in April.

Exports to countries other than the United States declined 5.5 per cent, largely the result of a 23.4 per cent decline in exports to the European Union. Imports fell seven per cent, led by decreases in precious metals from the European Union.

Consequently, Canada's trade deficit with countries other than the United States narrowed to $3.6-billion in April from $4-billion in March.

 

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