Statistics Canada says trade deficit hit record $4.6 billion in December

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Signage marks the Statistics Canada offices in Ottawa on July 21, 2010. Statistics Canada says some 3,900 sexual assaults reported to police in 2017 were deemed to be unfounded. THE CANADIAN PRESS/Sean Kilpatrick

Statistics Canada says the country’s merchandise trade deficit grew to a record $4.6 billion in December as lower crude oil prices prompted a drop in exports.

The result followed a trade deficit of $2.0 billion in November.

  • Exports were down 3.8 per cent to $46.3 billion in December.

Exports of energy products fell 21.7 per cent to $6.4 billion in December, the lowest level since July 2016. Excluding energy products, exports were essentially unchanged in December.

  • Total imports rose 1.6 per cent to $50.9 billion in December.

Imports of energy products rose 19.7 per cent to $3.3 billion while imports of motor vehicles and parts were up 4.0 per cent to $9.4 billion in December.