Canada’s merchandise trade balance with the world narrowed to a $370 million deficit in April, from a revised $936 million deficit in March, said Statistics Canada Friday. Exports rose 1.8 per cent to $47.7 billion, led by higher exports of passenger cars and light trucks. Imports were up 0.6 per cent to $48.1 billion, on the strength of import prices.
Canada’s trade activity has been strong in recent months, with Canada’s total merchandise trade (exports plus imports) reaching a record high $95.7 billion in April. Year over year, Canada’s total trade rose 10.9 per cent.
Canada Wholesale Trade, Lumber Export: April 2017
US Exports to the United States from Canada rose 5.4 per cent to a record high $36.1 billion in April, mostly on passenger cars, natural gas and softwood lumber, said Statistics Canada Thursday. Imports from the United States were up 1.1 per cent to $31.1 billion.
As a result, Canada’s trade surplus with the United States widened from $3.4 billion in March to $5 billion in April, the largest surplus since May 2014. The Canadian dollar fell 0.3 cents US relative to the American dollar in April.
Exports to countries other than the United States declined 7.8 per cent in April to $11.6 billion, partially offsetting the gain in exports to the United States.
Imports from countries other than the United States edged down 0.2 per cent, as widespread declines were partially offset by higher imports from Norway (crude oil and energy transmission cables) and Turkey (crude oil).
As a result, Canada’s trade deficit with countries other than the United States widened from $4.4 billion in March to $5.3 billion in April.
CANADA TRADE SURPLUS
In real (or volume) terms, exports were up 1.1 per cent and imports were down 0.3 per cent in April.
Consequently, Canada’s trade surplus in real terms widened from $239 million in March to $843 million in April.
LUMBER WHOLESALE TRADE
The building material and supplies subsector recorded the largest increase in dollar terms, as sales rose 3.9per cent to a record high $8.4 billion on the strength of higher sales in the lumber, millwork, hardware and other building supplies industry (+5.7 per cent) and the metal service centres industry (+8.2 per cent). Exports of lumber and other sawmill and millwork products rose 6 per cent in March.
Wholesale sales were up in nine provinces in March, representing 97 per cent of total wholesale sales. In dollar terms, British Columbia, Quebec, and Newfoundland and Labrador led the gain.
Following two consecutive declines, sales in British Columbia rose 1.9 per cent to $6.3 billion, the second-highest sales level on record, primarily on higher sales in the building material and supplies subsector.
In Quebec, sales increased 1.1 per cent to a record high $10.8 billion, led by the food, beverage and tobacco sub- sector. This was Quebec’s third monthly increase in the past four months.
Sales in Alberta rose 1.5% to $6.4 billion, a sixth consecutive increase. Gains were recorded in four subsectors, led by the motor vehicle and parts subsector and the building material and supplies subsector.
Ontario posted a fourth consecutive increase, with sales up 0.3 per cent to a record high $31.0 billion. Gains in three subsectors, led by the building material and supplies subsector, offset declines in the other subsectors.