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Canada trade deficit widens in December 2017

Canada's merchandise trade deficit with the world widened to C$3.19 billion in December 2017 from a revised C$2.71 billion in November 2017 as imports rose in December to a record C$49.70 billion, Statistics Canada said.

Imports rose 1.5% in December 2017 from C$48.96 billion in the previous month, with imports of energy products rising 16.9% and industrial machinery, equipment and parts imports increasing 6.3% from the previous month. The higher imports of energy products and industrial machinery, equipment and parts were partly offset by a 23.4% decrease in imports of aircraft and other transportation equipment and parts after two strong monthly increases.

Exports increased for the third consecutive month, edging up 0.6% to C$46.51 billion from C$46.25 billion. Exports of energy products increased 6.2% to their highest level since November 2014, exports of metal ores and non-metallic minerals rose 8.0%, and exports of metal and non-metallic mineral products climbed 7.7%. These increases were partly offset by an 8.4% decrease in consumer goods exports. Excluding energy products, exports declined 0.6% from the previous month.

Canada's trade surplus with the U.S. increased to C$3.42 billion from C$3.28 billion as imports from the U.S. declined 1.3% and exports to the U.S. edged down 0.8%. Canada's trade deficit with countries other than the U.S. widened to C$6.6 billion from C$6.0 billion in the previous month.