Canada’s merchandise imports in May fell 3.2 percent month-over-month, while exports declined 1.6 percent, resulting in a trade deficit of C$303 million (about US$287.2 million), compared with $901.5 million in April, according to Statistics Canada.
Following four consecutive monthly increases, imports fell to $37.5 billion in May, driven by lower imports of energy products, as well as metal ores and non-metallic minerals. Overall, volumes were down 2.0 percent and prices were up 1.2 percent versus March.
Meanwhile, exports in May declined to $37.2 billion, fueled by drops in exports of metal and non-metallic mineral products, as well as motor vehicles and parts. Volumes were down 0.7 percent and prices decreased 1.0 percent compared with the previous month.
Monthly imports from the U.S. dropped 2.0 percent month-to-month to $24.4 billion, the first decrease in five months, and exports to the U.S. decreased 1.6 percent to $27.7 billion. Consequently, Canada’s trade surplus with the U.S. went from $3.2 billion in April to $3.3 billion in May.
Imports from countries other than the U.S. fell 5.3 percent to $13.2 billion in May, while exports to countries other than the U.S. dropped 1.6 percent to $9.6 billion. Canada’s trade deficit with countries other than the U.S. thus decreased from $4.2 billion in April to $3.6 billion in May.