The trade deficit doubled to $1.1 billion in May from a $552-million deficit the month before, though that was fuelled by the import of five new airliners. OTTAWA—Canada’s imports and exports both reached record highs in May, Statistics Canada said Thursday, the latest sign of strength in the economy ahead of expectations that the central bank may be days away from raising its interest-rate target. Exports climbed 1.3 per cent to $48.7 billion, buoyed by shipments of unwrought gold to the United Kingdom. Exports of energy products, including crude oil, fell 9 per cent to $8 billion as both prices and volumes declined. “A price-related decline in oil exports belies what has been a fairly strong increase in energy export volumes year-to-date,” Nye said.

Source: thestar July 06, 2017 16:44 UTC