Investing.com - Canada’s trade deficit narrowed unexpectedly in May, official data showed on Wednesday.
In a report, Statistics Canada said that Canada’ trade deficit was CAD0.3 billion in May, narrowing from a deficit of CAD1.0 billion in April.
Analysts had expected Canada’s trade deficit to hold steady at CAD1.0 billion in May.
Following four consecutive monthly increases, imports fell 3.2% to CAD39.6 billion, while exports declined 1.6% to CAD39.3 billion
Following the release of the data, the Canadian dollar was little changed against its U.S. counterpart, with USD/CAD easing down 0.02% to trade at 1.0543.
In a report, Statistics Canada said that Canada’ trade deficit was CAD0.3 billion in May, narrowing from a deficit of CAD1.0 billion in April.
Analysts had expected Canada’s trade deficit to hold steady at CAD1.0 billion in May.
Following four consecutive monthly increases, imports fell 3.2% to CAD39.6 billion, while exports declined 1.6% to CAD39.3 billion
Following the release of the data, the Canadian dollar was little changed against its U.S. counterpart, with USD/CAD easing down 0.02% to trade at 1.0543.