Canada’s merchandise trade surplus with the world slipped to just under $4.0 billion in May from $5.1 billion in April, Statistics Canada said today.
The government agency said imports registered a big gain in May, fuelled by energy products and heavy machinery headed for booming construction projects in Western Canada.
StatsCan said companies imported $32.3 billion in merchandise, up 2.3%, while exports slipped by 0.5% to $36.3 billion.
Imports of energy products soared 19% in May as refineries in Eastern Canada stepped up demand.
Imports of machinery and equipment hit $9.1 billion, up 0.3% from April and their sixth consecutive monthly increase.