Canada sees trade deficit narrowing in April

By Ovunc Kutlu

ISTANBUL (AA) - Canada saw its trade deficit narrowing in April from the previous month, according to figures released Thursday by Statistics Canada.

The North American country's merchandise exports increased 2.6%, while imports rose 1.1% in April, the statistical agency said in a statement. "As a result, Canada's merchandise trade deficit with the world narrowed from $2.0 billion in March to $1.0 billion in April."

The market expectation was to show a trade deficit of $1.2 billion, while the initial figure for March showed a trade deficit of $2.3 billion -- the largest since June 2023.

Total exports rose 2.6% to $64.4 billion, while total imports increased 1.1% to approximately $65.5 billion.

Overall, export increases were observed in eight of the 11 product sections, led by a 2.7% gain in exports of energy products.

Import increases, on the other hand, were recorded in six of the 11 sections, which were led by a 4.2% increase in imports of motor vehicles and parts.