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Canada records a big jump in trade deficit in November as exports fall
Canada's trade deficit rose to C$2.2 billion in November as exports fell 24.4% for metals and non-metallic goods, while imports declined only 0.1%, Statistics Canada reported.
- On Thursday, national trade data showed Canada posted a goods trade deficit of C$2.2 billion in November, up from an upwardly revised C$395 million shortfall in October.
- A sharp metals slump, StatsCan noted, caused exports of metals and nonmetallic goods to fall 24.4%, driven by unwrought gold shipments to the United Kingdom, United States and Hong Kong.
- Exports of motor vehicles and parts fell by 11.6%, while export volumes were down 0.9%; total imports to Canada edged down 0.1% to C$66.14 billion.
- Exports to non-U.S. partners fell, leaving a wider non-U.S. deficit of C$8.8 billion, while the Canadian dollar firmed 0.32% to C$1.3511 and two-year government bond yields eased to 2.4192%.
- Data collection was disrupted by a 43-day U.S. government shutdown, delaying November figures as Statistics Canada said the goods balance has been in deficit since February last year except September.
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Statistics Canada reports merchandise trade deficit $2.2 billion in November
Canada posted a merchandise trade deficit of $2.2 billion for November as exports of gold as well as motor vehicles and parts fell in the month, Statistics Canada said Thursday. The agency said the result compared with a revised trade deficit of $395 million in October. However, RBC senior economist...
·Kelowna, Canada
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Canada records a big jump in trade deficit in November as exports fall
Canada posted a huge jump in its monthly international trade deficit in November as its merchandise exports dropped by a big margin, led by metal and non-metallic product exports, data showed on Thursday.
·United Kingdom
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Total News Sources20
Leaning Left4Leaning Right1Center5Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 40%
C 50%
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