{"id":10572,"date":"2016-09-08T15:19:30","date_gmt":"2016-09-08T15:19:30","guid":{"rendered":"https:\/\/immigrationca.staging.wpengine.com\/fr\/?p=10572"},"modified":"2016-09-08T15:23:34","modified_gmt":"2016-09-08T15:23:34","slug":"canadas-trade-deficit-grows-3-4b","status":"publish","type":"post","link":"https:\/\/immigration.ca\/fr\/canadas-trade-deficit-grows-3-4b\/","title":{"rendered":"Canada\u2019s Trade Deficit Grows to $3.4b"},"content":{"rendered":"

\"Canada\u2019s<\/p>\n

Canada\u2019s trade deficit has grown to five times the size it was in January, new Statistics Canada figures show.<\/p>\n

Data for March shows imports outweighed exports by $3.4 billion, compared to $669 million just two months before.<\/p>\n

The deficit increase was driven by an alarming reduction in exports, with a month-on-month drop of 4.8 per cent to $41 billion. Figures show more than $5 billion has been wiped off exports this year, a fall observers found alarming.<\/p>\n

\n

Canada\u2019s trade deficit in numbers (figures in $ billions)<\/h3>\n\n\n\n\n\n\n
<\/td>\nJanuary<\/td>\nFebruary<\/td>\nMarch<\/td>\n<\/tr>\n
Imports<\/td>\n46.80<\/td>\n45.50<\/td>\n44.40<\/td>\n<\/tr>\n
Exports<\/td>\n46.10<\/td>\n43.10<\/td>\n41.00<\/td>\n<\/tr>\n
Balance<\/strong><\/td>\n-0.669<\/strong><\/td>\n-2.40<\/strong><\/td>\n-3.4<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\n

Experts from Scotiabank say the figures are particularly alarming given the weak Canadian dollar, which should help boost this value.<\/p>\n

Bank of Montreal economist Benjamin Reitzes did not mince his words, describing the results as absolutely terrible\u2019.<\/p>\n

Canada\u2019s main trade partner is the US, with traditionally more exports moving south than imports making the move the other way.<\/p>\n

But the latest figures show that the surplus has more than halved since January, from $3.7 billion to $1.5 billion. This figure is the lowest it has been since 1993.<\/p>\n

The latest figures come after a recent Export Development Canada report<\/a> said exports would grow for all Canadian provinces between now and 2017.<\/p>\n

EDC\u2019s Global Export Forecast predicted a favourable economic climate in the US would boost Canadian coffers, with Americans buying everything from French fries in Prince Edward Island to vehicles in Ontario.<\/p>\n

\u201cHigher US demand and a much weaker Canadian dollar are sparking Canadian sales in a large number of key industries,\u201d said report author Peter Hall, EDC\u2019s chief economist.<\/p>\n

If the EDC projections are to be proven accurate, Canada has some serious ground to make up.<\/p>\n

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