Canada posted a $137M trade deficit in December, ending six months of surpluses
Global News
The trade deficit result compared with a surplus of $2.5 billion in November.
Statistics Canada says the country posted a merchandise trade deficit of $137 million in December to end a run of six consecutive monthly surpluses as imports rose and exports fell in the final month of the year.
The result compared with a surplus of $2.5 billion in November.
Imports for December rose 3.7 per cent to a record $57.7 billion, helped by a 16.2 per cent gain in electronic and electrical equipment and parts. Imports of motor vehicles and parts also rose 5.1 per cent.
Meanwhile, exports fell 0.9 per cent to $57.6 billion in December as exports of energy products fell 5.9 per cent.
Crude oil exports fell 5.0 per cent due to a drop in prices, while coal exports dropped 33.5 per cent due to disruptions in freight transportation in B.C. due to the flooding and landslides.
For the full year, Statistics Canada said the country posted an annual trade surplus of $6.6 billion, its first annual surplus since 2014 and largest since 2008.
A weaker Canadian dollar tied to Donald Trump's victory could be inflationary north of the border, which could make our central bank more hesitant to cut rates too quickly.
The employee was indicted for allegedly distributing personal information of TD Bank customers, the latest criminal probe to hit the U.S. arm of the Canadian financial institution.
Stock markets were rising broadly higher on news of Donald Trump's U.S. election victory on Wednesday. Here's how investors say you should adjust your portfolio.
The Bank of Canada's Carolyn Rogers says improving housing affordability ultimately requires reaching a balance between supply and demand, which she says will take time.
Donald Trump was previously a crypto skeptic but changed his mind and took a favorable view of cryptocurrencies ahead of the election.
Canadians continue to make payments on their mortgages, but there are signs of stress bubbling up on other credit products, which CMHC warns could continue to spread to home loans.
Canadians continue to make payments on their mortgages, but there are signs of stress bubbling up on other credit products, which CMHC warns could continue to spread to home loans.
Bell Canada will use $4.2 billion of the proceeds it got from selling its stake in Maple Leaf Sports & Entertainment to Rogers Communications to fund this acquisition.
With the costs of pet ownership rising, the Competition Bureau sees an opportunity to drive down the prices of medication by expanding distribution to pharmacies.
Major North American carriers with international operations are cashing in on a booming demand for overseas travel and a resurgence in business bookings.