Canada reports shrinking trade deficit in November, with exports up 2.2%, imports up 1.8%.

Statistics Canada reported a $323 million merchandise trade deficit for November, down from a revised $544 million in October. Exports rose 2.2% to $66.1 billion, driven by a 4.4% increase in consumer goods, including a 11.9% rise in pharmaceutical products, and a 2.1% increase in energy products. Imports increased 1.8% to $66.4 billion, with significant growth in consumer goods and industrial chemical, plastic, and rubber products. Despite the improvement, concerns remain about potential US tariffs.

January 07, 2025
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