Canada’s trade surplus dives CAD 208 million

 

File photo shows shipping containers.

Fri Dec 5, 2014 5:55PM GMT

On an upsurge of imports from the United States, Canada’s trade surplus has 
dived as much as CAD 208 million in October, government figures show.

The difference between the country’s imports and exports plunged from CAD 307 
million (USD 268 million) in the previous month to CAD 99 million (USD 87 
million), said Statistics Canada, the government statistical agency.

Though trade surplus results from the country’s exports being higher in value 
than its imports, the month’s balance showed just a 0.1 percent rise in 
exports, while imports were up 0.5 percent.

“Canada’s trade report was disappointing, considering the drop in export 
volumes in a month when US real imports actually rose,” said Krishen Rangasamy, 
senior economist at the National Bank of Canada.

According to the agency, October also saw a rise in imports from China.

Canadians imported more clothing and footwear in the month, as well as a record 
number of aircraft, ships, locomotives, railway rolling stock, rapid transit 
equipment, and transportation parts.

HN/HSN/SS

http://www.presstv.ir/detail/2014/12/05/388907/canada-trade-surplus-takes-huge-dive/

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