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Canada’s Trade Deficit Widens as Oil Shipments Take a Tumble

Posted January 16, 2015

Under Economic Issues, International Trade Issues

(Greg Quinn – Globe & Mail)

Canada’s November merchandise trade deficit widened as exports fell the most since January, 2012, on falling crude oil prices.

The deficit of $644-million followed an October reading that was revised to a $327-million deficit from a $99-million surplus, Statistics Canada said Wednesday in Ottawa. Economists surveyed by Bloomberg forecast a $200-million November shortfall, based on the median of 14 forecasts. The widest deficit prediction was $400-million. Read more here.