Page 14

ECONOMY & REGULATION

“Still optimistic that trade in 2018 will be positive.” Ross Prusakowski, Senior Economist at Export Development Canada

Larger than expected December trade deficit WORDS ORIN MARKLE

According to Statistics Canada, the country’s trade deficit grew to C$3.2 billion in December, $1 billion greater than economists’ predictions and C$500 million higher than November.

14 RFi MEDIA

According to Statistics Canada, the country’s trade deficit grew to C$3.2 billion in December, $1 billion greater than economists’ predictions and C$500 million higher than November. This represents the 11th consecutive deficit and the 7th largest in Canadian history. The deficit was primarily driven by a 16.9% jump in energy imports equating to an overall 1.5% increase in imports. Total exports also increased by 0.6%, helped by a 6.2% increase in exporting energy products, but was unable to keep pace, citing pipeline disruptions. The 2017 deficit is the second highest trade deficit Canada has encountered at C$24 billion, after reaching C$25.87 billion in 2016, but Ross Prusakowski, Senior Economist at Export Development Canada, is “still optimistic that trade in 2018 will be positive.”

Profile for Adelle Grisaffe

Canadian Banker - March 2018 Edition  

An RFi Group Publication

Canadian Banker - March 2018 Edition  

An RFi Group Publication