Canada's trade deficit declined in January

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In January, Canada’s trade deficit amounted to 4 billion 200 million US dollars, having decreased from the December level of 4 billion 800 million dollars. Exports grew for the first time since July 2018, reaching 47 billion 600 million dollars. Its growth was at the level of 2.9%. The indicator, which does not take into account energy supply, increased by 1.2%. In January, energy exports showed growth for the first time after monthly reductions over 5 months, mainly due to a 36.5% increase in exports of crude oil, prices for which increased by 36%. The volume of imports increased by 1.5% to 51 billion 800 million dollars. Import of transport equipment, including aircraft, and spare parts showed an increase of 52.6%, reaching a record figure of $2,700 million.

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