Investing.com - Canada’s trade deficit widened unexpectedly in December, official data showed on Thursday.
In a report, Statistics Canada said that Canada’ trade deficit was CAD1.66 billion in December, compared to a deficit of CAD1.53 billion in November, whose figure was revised from a previously reported deficit of CAD0.94 billion.
Analysts had expected Canada to post a trade deficit of CAD1 billion in December.
Canada's merchandise imports grew 1.2% to CAD41.4 billion and exports increased 0.9% to CAD39.7 billion in December.
Following the release of the data, the Canadian dollar erased gains against its U.S. counterpart, with USD/CAD rising 0.23% to trade at 1.1108, compared to 1.1054 ahead of the data.