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Canada's trade deficit in goods widened in May

08 July 2018

Exports increased $84.5 billion or 8.8 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". Merchandise trade surplus of Canada with the US narrowed in May as imports rose 1 percent and exports fell 0.2 percent.

Canada's trade surplus with the United States narrowed from Can$3.7 billion in April to Can$3.3 billion in May.

Canada also imported 13.9 percent more refined petroleum energy products, for a total of Can$1.6 billion in May. Aircraft drove the advance, more than tripling to $937 million on the import of several airliners from the United States.

"Energy imports swelled to compensate for temporary shutdowns at Canadian refineries".

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The trade deficit rose to Euro 6.0 billion in May from Euro 5.21 billion in the previous month.

In an another report, the Bank of France revealed that the seasonally and working-day-adjusted current account deficit widened to Euro 2.9 billion in May from Euro 1.3 billion in the prior month.

Imports rose 1.7 per cent in May, after falling a month earlier. Exports to the United States slipped by 0.2 per cent while imports increased by 1.0 per cent and as a result, the trade surplus with the United States shrank to $3.29-billion in May from $3.69-billion in April. Shipments of motor vehicles and parts dropped 3.6 percent in the month.

"Imports from countries other than the United States rose 2.9 per cent in May to $18.5 billion", the agency said.