Canada posted a small trade deficit in April, as export growth slowed while imports rose for a fifth straight month to hit a record high.
Canada's merchandise trade deficit with the rest of the world in April narrowed to a seasonally-adjusted 370 million Canadian dollars ($274.1 million), Statistics Canada said Friday, compared to an upwardly revised C$936 million shortfall in the previous month. The previous estimate indicated a C$135 million trade deficit in March.
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Market expectations were for a small deficit in April of C$20 million, according to economists at Royal Bank of Canada.
In April , exports climbed 1.8% to C$47.69 billion, as eight of 11 sectors tracked posted gains. Meanwhile, imports climbed 0.6% to C$48.06 billion.
In volume, or price-adjusted, terms, exports increased 1.1% and imports fell 0.3%.
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(END) Dow Jones Newswires
June 02, 2017 08:45 ET (12:45 GMT)