French Trade Deficit Widens In May

Marco Green
July 9, 2018

Exports of metal ores and non-metallic minerals also fell significantly in May, down 14.6 per cent to $1.3 billion, the lowest level since September 2016, coinciding with work stoppages at two iron ore mines. Merchandise trade surplus of Canada with the USA narrowed in May as imports rose 1 percent and exports fell 0.2 percent.

Imports rose 1.7 per cent in May, after falling a month earlier.

The year-on-year increase was 3.5 percent.

"Imports of aircraft and other transportation equipment and parts rose 17.7 per cent to $2.4 billion in May, the fifth consecutive monthly increase for this product section". Aircraft drove the advance, more than tripling to $937 million on the import of several airliners from the United States.

"While Canada's trade deficit was larger than expected in May, the deterioration was mostly due to temporary factors", notes National Bank Financial's Jocelyn Paquet. "The value of aircraft imports from January to May was a record high for this period".

Washington, DC, July 6, 2018-May exports were $215.3 billion, $4.1 billion more than April exports, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced. A number of Canadian refineries were temporarily shut down in May.

Exports slipped by 0.1 percent as shipments of motor vehicle and parts fell by 3.6 percent amid a disruption in the supply of auto parts from a plant in the United States. Imports increased $102.4 billion or 8.6%.

The United States took 74.2 percent of all Canadian goods exports in May.

Other reports by Click Lancashire

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