Canada: International Trade Deficit of C$1.4B in May

Canada’s international merchandise trade deficit came in at C$1.4 billion in May as data published by Statistics Canada showed on Friday, worse than market expectations of C$0.37 billion.

“In May, Canada’s merchandise imports increased 2.1%, while exports fell 1.6%,” the publication read. “In May, the average value of the Canadian dollar increased 2.4 cents US compared with the average value in April to 82.5 cents US. This was the largest monthly increase since July 2017. When expressed in US dollars, Canadian imports were up 5.2% in May, and exports rose 1.4%.”