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Canada's trade deficit widens in June

(Xinhua)

10:23, August 10, 2012

OTTAWA, Aug. 9 (Xinhua) -- Canada's trade deficit expanded from 954 million Canadian dollars (about 961 million US dollars) in May to 1.8 billion Canadian dollars in June.

It is the largest trade gap since September 2010 and the third recorded this year following an earlier string of surpluses, indicating weak demand for Canadian goods.

Canada's merchandise imports, which continued their upward trend, rose 2.3 percent to a record high of 40.9 billion Canadian dollars in June, while exports, dominated by automotive products, also increased by 0.2 percent to 39.1 billion Canadian dollars, according to data released by Statistics Canada on Thursday.

The country, however, still keeps a trade surplus with its neighbor, the United States. Canada's exports to the U.S., which accounted for more than 70 percent of the former's total exports, grew 2.2 percent to 29 billion Canadian dollars in June, while its imports from the U.S. increased by 3 percent to a record high of 25.9 billion Canadian dollars, with the trade surplus with the U.S. being narrowed from 3.2 billion Canadian dollars in May to 3.1 billion Canadian dollars in June.

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