Canada: Merchandise trade balance with world narrowed to $370 million deficit in April

"Canada's merchandise trade balance with the world narrowed to a $370 million deficit in April, from a revised $936 million deficit in March. Exports rose 1.8% to $47.7 billion, led by higher exports of passenger cars and light trucks. Imports were up 0.6% to $48.1 billion, on the strength of import prices," announced the Statistics Canada on Friday.

Key quotes:

• Following a 3.2% increase in March, total exports rose 1.8% to a record high $47.7 billion in April, with advances in 8 of 11 sections. Volumes were up 1.1% and prices increased 0.7%.
• Total imports rose 0.6% to a record high $48.1 billion in April, a fifth consecutive monthly increase, with gains in 7 of 11 sections. Prices increased 1.0%, while volumes were down 0.3%. Year over year, total imports were up 7.4%.
• In real (or volume) terms, exports were up 1.1% and imports were down 0.3% in April. Consequently, Canada's trade surplus in real terms widened from $239 million in March to $843 million in April.