November sees $323M merchandise trade deficit, according to Statistics Canada

January 7, 2025 TruthUSA

According to Statistics Canada, the merchandise trade deficit with the world in November was $323 million.

This compares to a revised deficit of $544 million in October.

The agency reported that exports increased by 2.2 percent to $66.1 billion in November, partly due to higher prices.

Among the export categories, consumer goods saw a 4.4 percent rise, driven by an 11.9 percent increase in pharmaceutical product exports. Metal and non-metallic mineral product exports also increased by 3.8 percent, aided by a surge in unwrought gold exports.

Exports of energy products rose by 2.1 percent, primarily due to higher crude oil prices.

On the imports side, total imports rose by 1.8 percent to $66.4 billion in November, with consumer goods increasing by 3.8 percent and industrial chemical, plastic, and rubber products rising by 4.3 percent.