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Canada`s unemployment rate has risen to an 11-year high and the trade deficit to a record, government figures showed Friday. But despite the gloomy results, evidence suggests global trade flows will recover by the end of the year and lift Canada over the hurdles to recovery.
Canada`s merchandise trade account to slumped to a record deficit of $1.4-billion in May as energy and automotive exports decreased and the Canadian dollar shot higher, Statistics Canada figures showed.
The value of exports fell 6.9% to $28.4-billion in the month, while the volume was down by 4.1%, reflecting both weak demand and a 2.9% decrease in prices. The value of imports fell 3.5% to $29.8-billion. However, this decrease was entirely due to prices, whicch fell 4.9%. The volume of imports actually rose 1.5%.
Read the full article here.
Canada`s merchandise trade account to slumped to a record deficit of $1.4-billion in May as energy and automotive exports decreased and the Canadian dollar shot higher, Statistics Canada figures showed.
The value of exports fell 6.9% to $28.4-billion in the month, while the volume was down by 4.1%, reflecting both weak demand and a 2.9% decrease in prices. The value of imports fell 3.5% to $29.8-billion. However, this decrease was entirely due to prices, whicch fell 4.9%. The volume of imports actually rose 1.5%.
Read the full article here.