Canada’s Trade Deficit Surges To $2.1 Billion

It more than doubled.

Canada’s trade deficit surged between October and November of 2018 (the last months for which figures are available).

In October, the trade deficit was $851 million. It more than doubled to $2.1 billion in November.

Canada’s exports were down a full 2.9% in November, which according to BNN Bloomberg was “the biggest one-month decline in over a year.”

The decline in exports was driven in part by the crisis facing the Canadian oil industry. Oil exports fell 18% in November.

Other sectors fell as well, with exports outside the energy industry falling 1.4% in November.

This is the fourth straight month in which exports have fallen, which is the worst since the year 2015.

And with the negative economic information adding up, this is yet another piece of information showing Canada’s economy facing weakness and a rising potential of crisis.

Spencer Fernando

Photo – YouTube

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Clive EdwardsCarleneBen EbyDon Taylor Recent comment authors
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Don Taylor
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Don Taylor

It was inevitable Trudeau is just to ignorant to be PM of Canada or any thing else

Ben Eby
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Ben Eby

I wonder, does the Trudeau cult understand simple arithmetic? As Trudeau, under the direction of Gerald Butts, rampages through the Canadian Treasury, senselessly spending hordes of Canadian taxpayer dollars on senseless causes, do the Trudeau loving Canadians ever question how their darling is going to pay for this unchecked recklessness. Its simple folks, no thinking involved: TRUDEAU IS GOING TO PAY DOWN HIS MONSTROUS DEFICIT BY RAISING YOUR TAXES! There is no other way out!

Carlene
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Carlene

And we are surprised? Why? You cannot suppress, or attempt to erase your core, natural, industries. Or suppress your citizens aspirations, tbeir desire for hard work, taking calculated risks to fulfill their dreams of a rewarded (monetary) results (without being taxed to or shamed to death). Otherwise you create a a have not economy, country. Dispute this? Then name me one country or jurisdiction in recorded history that took this route and made it work. Now don’t say China, (like our PM), most of their citizens would bail in a heartbeat if given the chance.

Clive Edwards
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Clive Edwards

Perhaps instead of flying around staying in expensive hotels and eating in the best restaurants with his entourage, Turdo could stay home and invite these other so-called world leaders to Canada, where their countries can pick up the tabs for them and their entourages. Perhaps he can even insist they fly 1st class with Air Canada. Oh – Canadians don’t own Air Canada anymore. Pity, eh?