ZCZC
BCN-26
CANADA-TRADE-DEFICIT
Canada enjoys lowest trade deficit since January 2017
OTTAWA, Aug. 4, 2028 (BSS/Xinhua) – Canada’s overall merchandise trade
deficit with the rest of the world dropped dramatically in June to 626
million Canadian dollars (about 482 million U.S. dollars), the lowest since
January 2017, Statistics Canada said Friday.
The country saw a 4.1 percent increase in exports compared with May,
reaching 50.7 billion Canadian dollars (roughly 39 billion U.S. dollars), due
to spiked exports of energy products and aircraft.
Energy exports, primarily oil, rose 7.1 percent to the highest since
October 2014, and aircraft sales grew by almost 45 percent.
The unexpected export performance has heightened expectations that the
Bank of Canada will raise its interest rates next month. The central bank has
raised its rates four times since the middle of last year as the economy has
been strengthening.
BSS/XINHUA/HR/1432