- Prior was -2.59
- Exports 65.63B vs 63.95B prior
- Imports 66.93B vs 66.53B prior
In December, Canada’s merchandise exports increased 2.6%, while imports were up 0.6%. That led to a halving of Canada’s trade deficit in the month. StatsCAn noted that the 1.3 cent increase in the loonie in December was the largest in 11 months and that led to higher export and import numbers than otherwise as many export products (like oil) are priced in USD.
Gold was a major driver of the improvement in trade, in large part due to surging gold prices.
Volatile exports of aircraft and other transportation equipment and parts were up 20.5%.
After falling in the previous two months, exports to the United States increased 1.1% in December.
Trade balance with the USA
