Canada trade deficit narrows to C$677mln in May – ZAWYA

Canada trade deficit narrows to C$677mln in May – ZAWYA

Canada trade deficit narrows to C$677mln in May | ZAWYA MENA Edition HomeEconomyGlobalArticleCanada trade deficit narrows to C$677mln in May Exports rose by 6.7%    Canada posted a trade deficit of C$677 million ($498 million) in May as exports increased and imports fell,Canada's exports rose in May, bouncing back from historic declines in April, as auto industry production resumed and on higher crude prices, though imports fell on supply challenges tied to the gradual reopening of countries from COVID-19 closures.Total exports rose 6.7% to C$34.6 billion ($25.5 billion) in May, its largest jump since January 2014, and imports declined 3.9% in May to C$35.3 billion, Statscan said.Canada's exports rose in May, bouncing back from historic declines in April, as auto industry production resumed and on higher crude prices, though imports fell on supply challenges tied to the gradual reopening of countries from COVID-19 closures.Canada posted a trade deficit of C$677 million ($498 million) in May as exports increased and imports fell,Total exports rose 6.7% to C$34.6 billion ($25.5 billion) in May, its largest jump since January 2014, and imports declined 3.9% in May to C$35.3 billion, Statscan said.Canada's trade deficit in May was C$677 million, while StatsCan revised April's trade