Ottawa (ANTARA) – Canadian exports of goods fell 2.2 percent; while imports will decrease by 0.5 percent in June 2023, Statistics Canada said on Tuesday (8/8).
Exports of goods fell for a second straight month after a 3 percent drop in May, Canada’s national statistics agency said. Furthermore, total exports in real terms fell by 1.1 percent in June and export prices fell for the 11th time in the last 12 months.
Statistics Canada said strikes at a number of British Columbia port terminals and severe flooding in Nova Scotia impacted business activity in July.
The port strike, which significantly affected activity at a number of British Columbia’s marine terminals, began on July 1 and disrupted regular operations for more than 13 days.
Canada’s international merchandise trade, particularly with Asian countries, relies heavily on these ports for the transportation of goods.
In 2022, 9.2 percent of Canada’s total exports by value were transported through British Columbia via maritime transport. Concerning imports, 5 percent of the total value was handled by these ports in the same year.
Heavy rainfall on July 21 in Nova Scotia caused flooding and damaged a section of railway serving the port of Halifax. The port handled 1.4 percent of the total value of Canada’s merchandise imports and 0.8 percent of the country’s total exports in 2022. Rail service to the port had resumed by the end of July.
When international trade in goods and services is combined, exports fell 1.7 percent to C$75.4 billion in June. Meanwhile, imports fell 0.4 percent to C$80.1 billion.
As a result, Canada’s trade balance with the world recorded a deficit of 4.7 billion Canadian dollars in June.
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