Canada’s international trade: the November 2015 statistics

Canadian exports increased 0.4% in November while imports were down 0.7%, reducing Canada’s international trade deficit from $2.5 billion in October to $2 billion in November. Total exports rose to $43.3 billion, led by motor vehicles and parts (+5.9%), metal ores and non-metallic minerals (+20.4%) and forestry products and building and packaging materials (+5.5%). These gains were partially offset by lower exports of energy products (-6.6%) and consumer goods (-4.5%).Total imports declined to $45.2 billion, the main declines being in electronic and electrical equipment (-2.9%), energy products (-6.4%) and consumer goods (-1%). These were moderated by a 2.5% increase in industrial machinery and equipment. Geographically, exports to the United States rose 1.3% and imports declined 0.1%, increasing Canada’s trade surplus with the U.S. from $1.7 billion to $2.1 billion. As exports to other countries declined 2.2% while imports decreased 2.1%, Canada’s trade deficit with countries other than the U.S. went from $4.2 billion to $4.1 billion. South of the border, U.S. November exports reached $182.2 billion, about 1% below October and imports $224.6 billion or 1.5% below October, lowering the U.S. international trade deficit from $44.6 billion to $42.4 billion. U.S. exports of industrial supplies and materials and consumer goods decreased the most, while capital and consumer goods led the decrease in imports.   Christian Sivière, Import Export Logistics Solutions, Montréal All Rights Reserved January 2016