Canadian imports, exports fall in November

Canadian exports and imports declined in November, both associated with the price of crude petroleum products, Statistics Canada said Tuesday.

Imports were down 4.8 percent to $38 billion, with volume down 2.3 percent, StatsCan said.

Exports slid for the fourth month in a row, dropping 6.8 percent to $39.2 billion … the lowest total for exports since January 2008, the report said, adding export volume decreased 1.8 percent.

However, excluding energy products, exports declined 2.7 percent while imports increased 0.6 percent in November.

On its own, the energy sector saw a 19.4 percent drop in November to $8.4 billion, and volumes were down 5.1 percent.

Exports to the United States fell 7.4 percent to $28.9 billion, while imports dropped 3.7 percent to $24.4 billion in imports, putting Canada’s trade surplus with the United States at $4.5 billion, its lowest level since May 1999. the report said.

November’s figures pushed Canada’s global trade balance down to $1.3 billion from $2.3 billion in October, the agency said.