Canada: Merchandise trade deficit with world reached $1.1 billion in May

"Canada's merchandise trade deficit with the world reached $1.1 billion in May, up from a $552 million deficit in April," announced the Statistics Canada on Thursday.

Key highlights:

• Imports rose 2.4% to $49.8 billion, led by an increase in aircraft imports
• Exports were up 1.3% to $48.7 billion on account of higher unwrought gold exports
• Canada's trade activity has been strong in recent months, with imports and exports both reaching record highs, resulting in a total trade value of $98.5 billion in May
• This represents a 13.8% increase over the same month last year
• Total imports rose 2.4% in May to $49.8 billion, a sixth consecutive monthly increase
• Total exports rose 1.3% to a record high $48.7 billion in May, a third consecutive monthly gain, on account of higher volumes
• Imports from the United States rose 3.6% to a record high $32.7 billion in May, on higher imports of aircraft and motor vehicles