Numbers Canada’s trade surplus with the rest of the world narrowed to $1.3 billion in November, the lowest in 11 years, as exports and imports tumbled.
The trade numbers, which came in below economists’ expectations, were driven in part by a steep drop in oil prices, Statistics Canada said. The agency also revised October’s trade surplus downward to $2.3 billion, from a previously reported $3.8 billion.
Exports dipped 6.8 per cent in November to $39.2 billion — the fourth consecutive monthly decline — as a result of lower prices and volumes. Imports fell 4.8 per cent to $38 billion, also due to price and volume declines.
