Canada's trade deficit rises in November as exports fall

Statistics Canada reported a goods trade deficit of $2.2 billion in November, up from a revised $395 million in October, as merchandise exports declined, led by a 24.4% drop in metals and non‑metallic products.

Statistics Canada reported a goods trade deficit of $2.2 billion for November, up from an upwardly revised $395 million in October. The agency said merchandise exports fell notably, with metals and non‑metallic products contributing a large share of the decline. The release noted that November data collection was delayed because information on Canadian exports to the United States was unavailable during a recent U.S. government shutdown. Key facts: - Goods trade deficit of $2.2 billion in November, versus $395 million in the prior month (revised). - Exports of metals and non‑metallic goods fell 24.4%, led by declines in unwrought gold shipments to the United Kingdom, the United States and Hong Kong. - Exports of motor vehicles and parts dropped 11.6%, the largest fall in that category in three years. - Total imports fell 0.1% to $66.14 billion, while Canada's merchandise surplus with the United States widened to $6.6 billion as U.S. imports to Canada fell more than Canadian exports to the U.S. Summary: The November deficit reflects weaker merchandise exports, especially in metals and motor vehicle parts, and was reported alongside a small decline in overall imports. Undetermined at this time.