Statistics Canada says trade deficit in April shrank to $966 million

Statistics Canada says the country’s merchandise trade deficit shrank to $966 million in April, the smallest deficit since October last year.

The result for the company compared with a revised trade deficit of $2.3 billion in March compared with an initial reading of $3.2 billion.

Economists had expected a deficit of $2.8 billion for April.

The smaller-than-expected deficit in April came as exports rose 1.3 per cent in the month to $50.7 billion, as exports of metal and non-metallic mineral products climbed 15.0 per cent, boosted exports of gold.

Imports fell 1.4 per cent in April to $51.7 billion as imports of aircraft and other transportation equipment and parts fell 23.6 per cent.

In volume terms, exports were up 2.0 per cent, while imports fell 1.9 per cent.