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Canada posts C$594 million trade surplus in April as imports slump

Credit: REUTERS/CHRISTINNE MUSCHI

Canada posted a trade surplus of C$594 million ($492.13 million) in April as imports fell at a much faster rate than exports, largely because motor vehicle and parts plants were shut down because of a shortage in semiconductor chips, Statistics Canada said on Tuesday.

June 8 (Reuters) - Canada posted a trade surplus of C$594 million ($492.13 million) in April as imports fell at a much faster rate than exports, largely because motor vehicle and parts plants were shut down because of a shortage in semiconductor chips, Statistics Canada said on Tuesday.

Exports were down 1.0% on motor vehicles and parts. Imports fell by 4.7%, also thanks to lower shipments of motor vehicles and parts.

Following are the seasonally adjusted figures in billions of Canadian dollars:

Merchandise trade

Apr March (rev) change pct March(prev) Balance

+0.594

-1.347

n/a

-1.140

Exports

50.207

50.700

-1.0

50.618

Imports

49.613

52.048

-4.7

51.758

NOTE: Analysts surveyed by Reuters had on average forecast a deficit of C$0.70 billion in April.

($1=$1.2070 Canadian)

(Reporting by Dale Smith, editing by David Ljunggren)

((Reuters Ottawa bureau: +1 613 480 7891; david.ljunggren@tr.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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