Canadian Packaging

Imports and exports climb in May

By Purchasingb2b Staff   

General Canadian importers and exporters

“Though the trade deficit grew, the fact that both exports and imports grew by such large margins indicates…a continued strengthening in domestic demand here in Canada, but also in the US and in the European Union. Indeed, today’s concurrent news of an import-led widening in the US trade deficit is consistent with today’s Canadian trade report.”

While a widening trade deficit is not good news, Fong said that it was hardly a surprise.

“However, given the divergent strength between Canada and its developed peers, this was to be expected; TD Economics expects net exports to detract from growth in the next two quarters, with real export growth of four to six percent and real import growth in the seven toeight percent range.”

Fong added that this will likely change at the end of the year, when the US economic recovery takes firm hold and net exports become a driver of growth.

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