The merchandise trade deficit in May increased to $1.9B, reports Statistics Canada

Statistics Canada says the country’s merchandise trade deficit widened to $1.9 billion in May as exports fell to their lowest level since July last year.

The agency says the result compared with a revised trade deficit of $1.3 billion for April. The initial reading had shown a deficit of $1.0 billion for the month.

For May, Statistics Canada says exports dropped 2.6 percent to $62.4 billion as exports of metal and non-metallic mineral products fell seven percent in the month.

Exports of energy products fell 2.4 percent, due in large part to lower prices.

Meanwhile, imports fell 1.6 percent in May to $64.4 billion as imports of metal and non-metallic mineral products fell 10 percent and motor vehicles and parts dropped 4.4 percent.

In volume terms, total exports fell 1.7 percent in May, while total imports dropped 1.3 percent.

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