OTTAWA: Canada’s trade swung into virtual balance in January with a deficit of only Can$177m, compared to a C$922m deficit the previous month, the government said yesterday.
The improved trade balance surprised economists who had expected a C$1.5bn deficit.
Statistics Canada also revised downward by nearly half its initial estimate of the December deficit from C$1.7bn.
The change was due to a 1.6 percent drop in imports to C$40.8bn in January, with energy and auto parts imports declining due to the closing of US factories because of harsh winter weather.
Exports rose slightly, 0.2 percent, to C$40.6bn, reflecting a 5.8 percent increase in prices and a 5.3 percent drop in volume.
AFP
