The FINANCIAL — Canada posted its second-biggest trade deficit on record in April, missing market expectations by a hefty margin, partly due to a weak performance by non-energy exports — which are a key element underpinning the Bank of Canada’s forecast for stronger growth through the rest of 2015.
The data for March, which showed Canada posted its largest trade deficit yet, were revised to suggest a bigger-than- estimated deficit.
Canada’s trade deficit for April narrowed to 2.97 billion Canadian dollars ($2.39 billion) from a revised C$3.85 billion in March, Statistics Canada said on June 3. Market expectations were for an April trade deficit of C$2.15 billion, according to economists at Royal Bank of Canada.
Previously, the national data agency estimated March’s trade deficit at C$3.02 billion.
Exports declined 0.7% in April, as prices fell 1.2% while volumes rose 0.5%. Imports fell 2.5%, as volumes fell 1.8% and prices declined 0.8%.
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