Canada's trade deficit in April narrowed to $2.94 billion from a record $3.18 billion in March as exports grew at a slightly faster rate than imports.
Figures released Friday by Statistics Canada show that the shortfall - larger than the $2.45-billion deficit forecast by analysts - reflects Canada's struggle to deal with weak crude prices that have slashed the value of exports and hamstrung growth.
The agency also says exports rose by 1.5%overall as oil prices recovered slightly and the United States imported more natural gas. Exports of industrial machinery, equipment and parts jumped by 10.5% to hit a 15-year high.
Imports increased by 0.9% on higher imports of aircraft and other transportation equipment.
Exports to the United States, which account for 74.8%of Canada's world total, rose by 2.3%while imports advanced by 3%
As a result, Canada's trade surplus with the United States dropped to $1.57 billion from $1.74 billion in March - the lowest surplus since December 1993.
