(Ottawa) Canada’s trade deficit halved in April from the previous month to $1 billion, the government’s statistics agency said Thursday.
Exports rebounded during the month, increasing 2.6% to $64.4 billion, led by energy products shipped abroad.
This coincided with a recovery in refining capacity in the US Midwest. Shipments of liquefied natural gas to Japan also increased, but exports of nuclear fuel declined.
Raw gold exports have also increased in value due to rising prices.
Imports, meanwhile, rose 1.1% to $65.5 billion, led by a third consecutive monthly increase in motor vehicle imports, which were largely fueled by Canadian purchases of sport utility vehicles and light trucks from the United States.
Imports of other transportation equipment also increased, due to the delivery of several ships, including a ferry from China that will operate between the provinces of Newfoundland and Nova Scotia.
Canada’s trade surplus with the United States increased slightly to $7.3 billion in April, while that with other countries narrowed to $8.4 billion. .
Finally, Canadian exports recorded in March were revised by the statistics agency, going from 62.6 billion Canadian dollars to 62.8 billion in April.