Trade deficit down 3.2% to $303M on reduced imports and exports: StatsCan_News

Trade deficit down 3.2% to $303M on reduced imports and exports: StatsCan

Date:2025-12-23 21:07 Click:769

Trade deficit down 3.2% to $303M on reduced im<em></em>ports and exports: StatsCan

Auto parts were among the export categories in decline.

OTTAWA Statistics Canada says the countrys merchandise deficit declined sharply to $303 million in May from $951 million in April as imports fell much more quickly that exports.

imports were down 3.2 per cent to $39.6 billion after four consecutive monthly increases.

Exports declined 1.6 per cent to $39.3 billion as prices decreased one per cent and volumes slipped 0.7 per cent.

RELATED: Exports dropped, imports rose trade deficit up in February StatsCan

The overall decline in exports was led by metal and non-metallic mineral products, as well as motor vehicles and parts.

imports from the United States declined two per cent to $25.7 billion and exports to the United States decreased 1.6 per cent $29.2 billion. That raised the trade surplus with the United States to $3.5 billion in May from $3.4 billion in April.

imports from countries other than the United States fell 5.3 per cent to $13.9 billion and exports to those countries slipped 1.6 per cent to $10.1 billion, cutting the trade deficit in this sector to $3.8 billion in May from $4.4 billion in April.