Canada recorded its biggest trade deficit since October 2020 in May, government data showed Thursday, surprising analysts with a drop in exports of grains and energy products while imports trended up behind automobiles.
The deficit stood at $3.4 billion, after two months of surpluses, the statistics institute reported on Thursday.
In April, the country had recorded a trade surplus of $894 million. Exports fell by 3.8 per cent, two-thirds of which was attributable to energy and farm and food products.
Exports of agricultural and fishing products (-13.4 per cent) fell the most in May.
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