Canada’s trade deficit widened to 5.9 billion Canadian dollars (USD 4.24 billion) during June, driven by imports growing at a faster pace than exports due to a one-time import of high-value oil equipment.
This marks the second-highest deficit ever, following the record high of 7.6 billion Canadian dollars recorded in April.
According to “Statistics Canada,” total imports rose by 1.4 percent in June to 67.6 billion Canadian dollars, after a 1.6 percent drop in May. In contrast, Canadian exports rose by 0.9 percent to 61.74 billion Canadian dollars, following a 2 percent increase in May.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
