Feb. 14, 2008
According to Statistics Canada Canada's merchandise trade surplus fell in December to 2.4 billion from 3.76 billion. This is the lowest surplus in 9 years and reflects the weight of the high exchange rate on the dollar on our exports to the US.
Auto products exports and forestry industry exports both declined leading to a 9 year low for our trade surplus with the US. Our surplus in trade with the US fell to 6.1 billion dollars for December. For the year as a whole our surplus with the world fell to 49.7 billion dollars down from 51.3 billion in 2006.
US exports now account for 76.4 % of all Canadian exports down from 79.2 % . This is an improvement but the likelihood of a slowdown in the US not affecting our exports and thereby our economy is nil.
No comments:
Post a Comment