MNI: 5 Things We Learned From Canadian Merchandise Trade Data>

By Yali N'Diaye

     OTTAWA (MNI) - The following are the key points from the December 

data on the Canadian merchandise trade data released Tuesday by 

Statistics Canada: 

     - The goods trade deficit widened to C$3.2 billion, while analysts 

in a MNI survey had expected a narrowing of the gap to C$2.0 billion as 

exports disappointed. November deficit was revised up to C$2.7 billion 

from C$2.5 billion. 

     -  Imports rose 1.5% to a record C$49.7 billion in December, while 

exports rose just 0.6% to C$46.5 billion. Export volume was flat, while 

real imports rose 1.0%. 

     - In the fourth quarter, the nominal trade deficit narrowed to 

C$7.3 billion from C$9.0 billion. But the real trade balance 

deteriorated, posting a deficit of C$4.7 billion after a C$3.5 billion 

gap in the third quarter. 

     - Exports to the U.S. contracted 0.8% in December after rising 5.2% 

in November. On a sector basis, nominal exports fell in 6 of 11 

sections, led by consumer goods (-8.4%, with volumes -9.6%). Energy 

exports rose 6.2%, and exports excluding energy fell 0.6%. 

- For 2017, the trade deficit narrowed to C$24.0 billion from C$25.9 

billion in 2016. But in real terms, the balance switched to a C$6.7 

billion deficit in 2017 from a C$7.6 billion surplus in 2016. 

--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 

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