According to Statistics Canada, in November, Canada's merchandise imports increased 1.9 percent, while exports were down 0.6 percent. As a result, Canada's merchandise trade surplus with the world narrowed from $3.2 billion in October to $1.6 billion in November. This represents a fourth consecutive monthly trade surplus.
After decreasing 2.9 percent in October, total imports rose 1.9 percent in November, with increases in 8 of the 11 product sections. Year-over-year, imports were down 0.1 percent. In real (or volume) terms, November imports were up 1.6 percent from October.
Following four consecutive monthly gains, total exports declined 0.6 percent in November. This decrease occurred despite increases in 7 of the 11 product sections. Metal and non-metallic mineral products, as well as aircraft and other transportation equipment and parts posted the largest declines by far. Excluding these two product sections, exports increased 1.0 percent in November. In real (or volume) terms, total exports were down 0.1 percent.
Exports to countries other than the United States fell 4.2 percent in November, following an increase of 5.1 percent in October. The decline was largely driven by lower exports to Saudi Arabia (other transportation equipment) and Switzerland (unwrought gold). Imports from countries other than the United States rose 2.3 percent in November. Imports from Kazakhstan (nuclear fuels), the United Kingdom (unwrought gold) and China (various products) posted the largest gains. Canada's trade deficit with countries other than the United States widened from $9.0 billion in October to $10.1 billion in November.
Exports to the United States were up 0.4 percent in November, while imports from that country rose 1.7 percent. As a result, Canada's trade surplus with the United States narrowed from $12.1 billion in October to $11.7 billion in November.