Canada’s merchandise trade deficit widened to the largest in six months in November as crude oil prices tumbled. Exports fell 2.9 per cent in November, for the biggest one-month decline in over a year, as oil shipments plunged 18 per cent. The sudden slump in oil prices sidetracked what had been an improving export performance last year, with the country on pace to produce its lowest trade deficit in four years in 2018. The trade deficit was in line with the median economist forecast of $2.15 billion, from an initially reported October deficit of $1.17 billion. The country remains on pace to produce its lowest trade deficit in four years in 2018.

Source: thestar January 08, 2019 13:52 UTC