Canadian trade balance for January
- Prior month's report. December was -4.59B revised to -4.82 billion
- exports 47.58B up 2.9% vs 46.23B (rev from 46.31B)
- Imports 51.82B up 1.5% from December's 51.05B( revised from 50.9B)
- energy exports increased 14% MoN . Energy trade balance 4.3 billion versus 3.1 5 billion last month
- nonenergy exports increased 1.2% MoM. Nonenergy trade balance-8.6B vs -7.9B last month
- The largest upside contributor to exports was the energy category
- the largest downside contributed to exports was the agriculture category -0.53 ppts
- Canada's merchandise trade balance with US was +1.56B va 1.77B in December
- imports of machineryand equipment up 0.7% MoM
- exports of 3.1% from year earlier. Imports up 8.3%
Although the trade deficit narrowed for the month by month, it still remains near record low levels.
