Canada’s Export Deficit Widening: Stats Canada

Imports have continually outpaced exports between Canada and the US, according to Stats Canada. The deficit hit 3.1 billion between April-June 2013, with imports advancing 1.4 billion. The import volume has been accredited to a large volume of cars vehicles, electronics, and electrical equipment. Recently Canada’s export market has struggled with a few contributing factors; weak markets, a strong Canadian dollar, and a decrease in oil exports. This trade deficit is the second highest ever recorded and officials say that improving export volume is key to driving the Canadian economy.

For more information please see Stats Canada: http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/media01-eng.htm