OTTAWA, April 5: Canada’s trade deficit widened to Can$1 billion (US$980 million) in February as imports of consumer goods reached a record high, the government’s statistical agency said Friday.
The eleventh consecutive monthly deficit was up from a revised Can$746m (US$731m) in the previous month, according to Statistics Canada. Exports decreased to Can$38.5bn (US$37.7) while imports edged up to Can$39.5bn (US$38.7bn).
Exports of unwrought precious metals and precious metal alloys, communications and audio and video equipment as well as electronic and electrical parts fell. Lower volumes of dyes and pigments, petrochemicals and of basic chemicals were partially offset by higher exports of lubricants and other petroleum refinery products.
The number of passenger cars and light trucks shipped abroad also rose. Meanwhile, imports of lubricants and other petroleum refinery products, passenger cars and light trucks, motor vehicle engines, chemicals, and of fertiliser, pesticide and other rose.—AFP
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