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Trade deficit nearly quadruples to $2 billion

Statistics Canada says the country's trade deficit with the world ballooned to $2 billion in November from $552 million in October as imports rose 2.7 per cent and exports fell 0.9 per cent.
Canada's trade deficit increased by almost 300 per cent last month. (Zurich Financial Services Group)

Statistics Canada says the country's trade deficit with the world ballooned to $2 billion in November from $552 million in October as merchandise imports rose 2.7 per cent and exports fell 0.9 per cent.

Imports hit $39.5 billion, with electronic and electrical equipment and parts leading the gain, followed closely by motor vehicles and parts as well as metal and non-metallic mineral products.

Exports slipped to $37.5 billion, led by declines in shipments of farm, fishing and intermediate food products as well as metal and non-metallic mineral products.

Exports to the United States rose 3.9 per cent to $28.3 billion and imports were up 1.7 per cent to $25 billion, lifting the trade surplus with that country to $3.3 billion in November from $2.7 billion in October.

Exports to countries other than the United States fell 13.4 per to $9.2 billion, the lowest level since September 2010.

Imports from those countries rose 4.6 per cent to $14.5 billion, raising the trade deficit with them to $5.3 billion from $3.2 billion.