According to Statistics Canada, the country’s trade surplus fell to $1.5 billion in April as imports and exports hit record highs, helped by rising prices.
The agency reports the result compared to the revised surplus of $2.3 billion in March.
Total imports in April rose 1.9% to $62.8 billion, as imports of consumer goods rose 5.5%, the clothing, footwear and accessories sub-category rose 24, 2%.
Meanwhile, total exports rose 0.6% to $64.3 billion in April.
Exports of consumer goods increased 5.0%, boosted by prepared and packaged seafood products which gained 52.4% largely due to high crab prices, while the quantity of crab exported increased also contributed to the increase.
In terms of volume, imports fell 0.4% in April, while exports fell 2.1%.
This report by The Canadian Press was first published on June 7, 2022