Trade Resources Industry Views Canada's Trade Deficit with The World Is Narrowed

Canada's Trade Deficit with The World Is Narrowed

The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced Tuesday that total June exports of $191.2 billion and imports of $225.4 billion resulted in a goods and services deficit of $34.2 billion, down from $44.1 billion in May, revised. June exports were $4.1 billion more than May exports of $187.1 billion. June imports were $5.8 billion less than May imports of $231.2 billion. The goods and services deficit decreased $8.2 billion from June 2012 to June 2013. Exports were up $6 billion, or 3.2 percent, and imports were down $2.3 billion, or 1 percent.

Meanwhile, Statistics Canada reported that Canada's merchandise exports grew 1.4 percent and imports increased 0.6 percent in June. As a result, Canada's trade deficit with the world narrowed from $781 million in May to $469 million in June. Exports to the United States grew 1.5 percent to $29.4 billion, while imports from the United States declined 0.8 percent to $25.6 billion. Consequently, Canada's trade surplus with the United States increased from $3.2 billion in May to $3.8 billion in June. Year-to-date totals for imports from the United States reached $153.3 billion in June, the highest value on record.

Source: http://www.steelorbis.com/steel-news/latest-news/trade-deficit-narrows-in-the-us-and-canada-775548.htm
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Trade Deficit Narrows in The US and Canada
Topics: Metallurgy