Canada's exports to the rest of the world fell in May while the country imported more than it did the month before. And Statistics Canada figures released Tuesday also say that, as a result, Canada's monthly merchandise trade deficit grew to $3.3 billion, the second-highest level ever.
The biggest monthly trade deficit came in March, when the country imported $3.9 billion more goods than it exported.
Exports fell 0.6% from April to $42 billion, while imports rose 0.2% to $45.3 billion.
Canada exported less to other countries, StatsCan said, the volume of exports dropping 2.5% in May, following two straight monthly increases.
The country shipped far fewer mineral products and metal ores, with major declines recorded in exports of copper, potash, and other metal ores and concentrates.
On the plus side, exports of motor vehicles and parts rose, as did aircraft and other transportation equipment and parts.
Imports rose in May because we brought in more consumer goods, precious metals, and basic and industrial chemical, plastic and rubber products. Imports of industrial machinery and parts fell. Altogether, imports in seven of 11 sectors increased.
Canada continues to have a trade surplus with the U.S., but the surplus narrowed slightly in May to $2.1 billion from $2.3 billion in April.
But Canada's trade deficit with countries other than the United States widened from $5.3 billion in April to $5.5 billion in May. Exports to China and the United Kingdom both fell by more than $300 million.
