Thursday, November 27th1.1°C
22246
23778

Canadian trade deficit narrows to $177 million as imports fall in January

OTTAWA - Statistics Canada says a dip in imports contributed to a significant narrowing of Canada's merchandise trade deficit in January to $177 million from $922 million the previous month.

The agency says exports did increase during the month by 0.2 per cent to $40.6 billion, but it was a 1.6 per cent decline in imports to $40.8 billion that was the main reason for the improvement in the balance of trade.

In volume terms, exports fell 5.3 per cent, which is expected to weigh on the country's economic output during the first quarter of 2014. Exports were up slightly in value because prices obtained by shippers rose by 5.8 per cent, the agency said.

The strongest export contributors came in energy products, up 9.2 per cent, although most of that gain was due to price effects.

As well, there were sizable percentage gains in shipments of farm, fishing and intermediate food products, as well as wheat.

Meanwhile, exports in motor vehicles fell by 11 per cent, which the agency partly attributed to the extension of holiday shutdowns both in Canada and the U.S.

Overall, exports to the United States, Canada's largest customer, edged lower by 0.1 per cent to $30.7 billion, while imports from south of the border declined an even larger 1.8 per cent to $27.1 billion. As a result, Canada's trade surplus with its nearest neighbour expanded to $3.6 billion from $3.2 billion in December.

Canada's trade deficit with the rest of the world narrowed by about $300 million to $3.8 billion in January, as exports grew by 1.3 per cent and imports declined by 1.2 per cent.

In a separate report, Statistics Canada said labour productivity rose by one per cent in the fourth quarter of 2013, following a smaller 0.3 per cent gain in the third. The real gross domestic product of business grew a healthy 0.7 per cent, while hours worked in goods-producing firms dipped by 0.2 per cent.

The Canadian Press


Read more Business News

23872


Recent Trending




Today's Market
S&P TSX15038.41-35.24
S&P CDNX771.06-9.58
DJIA17827.7512.81
Nasdaq4787.317+29.065
S&P 5002072.83+5.80
CDN Dollar0.8878-0.001
Gold1195.20-1.40
Oil72.15-1.54
Lumber327.90-1.60
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.160.00
Knighthawk0.01-0.005
QHR Technologies Inc1.34+0.02
Cantex0.045+0.005
Anavex Life Sciences0.171-0.004
Metalex Ventures0.035+0.005
Russel Metals31.50-0.64
Copper Mountain Mining2.16+0.01
Colorado Resources0.12-0.01
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.34+0.015

 
24130


24035

FEATURED Property
2127744226 Briarwood Road
4 bedrooms 2 baths
$269,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...

_



24156

24119


Member of BC Press Council


24033