Canada's merchandise trade surplus fell to $1.5 billion in April as both imports and exports hit
record highs, according to Statistics Canada.
The federal agency said the April result compared with a revised trade surplus of $2.3 billion in
March. In volume terms, imports fell 0.4% in April, while exports declined 2.1%.
Total imports in April rose 1.9% to a record $62.8 billion as imports of consumer goods gained
5.5% with the clothing, footwear, and accessories subcategory up 24.2% in the month. At the
same time, total exports rose 0.6% to come in at a record $64.3 billion for April.
Exports of consumer goods rose 5%, boosted by prepared and packaged seafood products that
gained 52.4% due in large part to strong crab prices, while the quantity of crab exported also
increased.
Statistics Canada said exports of energy products fell 0.9% in April as exports of crude oil fell
14.3% due to planned maintenance shutdowns in the Alberta oilsands. The drop in oil came as
higher prices helped boost exports of natural gas 48.4% and higher volumes helped lift coal
exports 62.8% for the month.
Overall, Canada's trade surplus with the U.S. fell to $11.6 billion in April compared with a record
high of $12.2 billion in March. Canada's merchandise trade deficit with other countries totaled
$10.1 billion in April compared with $9.9 billion in March.
