Canada posted a $137M trade deficit in December, ending six months of surpluses

Statistics Canada says the country posted a merchandise trade deficit of $137 million in December to end a run of six consecutive monthly surpluses as imports rose and exports fell in the final month of the year.

The result compared with a surplus of $2.5 billion in November.

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Imports for December rose 3.7 per cent to a record $57.7 billion, helped by a 16.2 per cent gain in electronic and electrical equipment and parts. Imports of motor vehicles and parts also rose 5.1 per cent.

Meanwhile, exports fell 0.9 per cent to $57.6 billion in December as exports of energy products fell 5.9 per cent.

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Crude oil exports fell 5.0 per cent due to a drop in prices, while coal exports dropped 33.5 per cent due to disruptions in freight transportation in B.C. due to the flooding and landslides.

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For the full year, Statistics Canada said the country posted an annual trade surplus of $6.6 billion, its first annual surplus since 2014 and largest since 2008.

© 2022 The Canadian Press