(Ottawa) Growth in Canada’s merchandise imports and exports slowed in April, according to Statistics Canada, which reported a merchandise trade surplus with the world that narrowed to $2.3 billion in March. to 1.5 billion in April.
Posted at 9:05 a.m.
Imports had jumped 5.1% in February and 7.8% in March, but their increase was more modest in April, at 1.9%. The value of imports stood at 62.8 billion.
Statistics Canada observed that consumer goods contributed the most to April’s increase. Clothing, footwear and accessories posted the largest increase, up 24.2%.
As for total exports, they increased by 0.6% in April to reach 64.3 billion, which represented a fourth consecutive monthly increase. Exports of prepared and packaged fish and seafood jumped 52.4%, mainly due to the sharp rise in the price of crab.
Motor vehicle and parts exports rose 3.9% in April to $7.1 billion; it was the highest level since October 2020.
Statistics Canada reports that imports from Canada’s main trading partner, the United States, rose 4.4% in April and exports rose 2.1%. As a result, Canada’s trade surplus with the United States narrowed from a record high of $12.2 billion in March to $11.6 billion in April.