Canada posts C$175 mln trade surplus in April
By Srikanth Srinivasa | June 12, 2010 2:05 AM EST
Canada’s balance of trade with the world reached a surplus in April as imports fell more than its exports, Statistics Canada reported.
The federal agency on Thursday said Canada posted a trade surplus of C$175 million during the month after it posted a C$236-million deficit in March.
Both export and import volumes increased for a third consecutive month though at a slower pace than before, but exports fell 1 percent while imports declined 2.2 percent in April due to lower prices, the statistics agency said.
The decline in exports was led by a drop in precious metals. However, industrial goods and materials accounted for the 2.2 per cent fall in imports, the agency said.
The trade balance in March was revised downwards to a C$236 million ($228 million) deficit from a C$254 million ($250 million) surplus previously.
Here are some key facts:
- Exports of precious metals fall 27.4 percent in April
- Fertilizer exports decline 13.7 percent due to lower potash exports
- Exports of natural gas fall 20.9 percent due to lower prices and volumes
- Exports of animal products ( mink fur, and nickel ores) up.
- Imports of chemicals and plastics decline 10.0 percent due to lower imports of organic chemicals
- Imports of precious metal fall 30.8 percent
- Trade with the US flat at C$3.8 billion
- Exports to US up 0.7 percent
- Imports to US up 0.9 percent
- Exports to the EU fall 23.4 percent
- Imports to EU fell 7.0 percent
- Trade deficit with other countries (excluding US) down to C$3.6 billion from C$4 billion in March
- Exports to other countries (except US) down 5.5 percent
- Imports to other countries down 7 percent
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