Forexpros – Canada’s trade deficit widened modestly in May, as exports were relatively unchanged from the previous month and imports increased 0.4%, official data showed on Wednesday.
In a report, Statistics Canada said that Canada’ trade deficit widened to CAD0.8 billion in May, compared to expectations for a deficit of CAD1.0 billion.
Canada’s trade deficit for April was revised to CAD0.6 billion, from a previously reported CAD0.4 billion.
Canada’s exports remained at CAD38.9 billion in May, while imports rose 0.4% to CAD39.7 billion, on the strength of energy products.
Following the release of the data, the Canadian dollar held on to gains against its U.S. counterpart, with USD/CAD slumping 0.31% to trade at 1.0195.
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