ECONOMIC WATCH: Canadian trade volumes plummeted in April

by Today's Trucking

OTTAWA, Ont. – Canada’s exports fell to their lowest levels in more than a decade, while imports plunged to levels not seen since 2011 in April, according to new trade data from Statistics Canada.

The declines came as retail stores and manufacturing industries shut down to manage the Covid-19 pandemic, coupled with falling energy prices.

(Source: Statistics Canada)

Exports in April were down 29.7% at $32.7 billion, while imports fell 25.1% to $35.9 billion. Statistics Canada reported “monthly decreases of this magnitude have never been observed.”

Motor vehicles and parts showed the largest decreases, StatsCan reports, while total trade for these goods was already near a five-year low. Passenger car and light truck exports dropped 84.8% due to production shutdowns, while exports of engines and parts plunged 84%. Imports were also down 90% in this category.

(Source: Statistics Canada)

Trade in energy products were down steeper than ever on record, with crude oil exports down 55.1%.

Consumer goods imports fell 11.6%, marking the largest decline since 1988.

More than 90% of Canada’s trade activity was attributed to trade with the U.S. Exports to the U.S. fell 35.7%, while imports were down 35.3%.

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  • The government has failed Canadians miserably, and inflicted years of financial devastation to millions , as well as thousands of deaths in nursing homes . How predictable, to blame others,
    I hope they who made these decisions will be held accountable, by public inquiries and lawsuits
    I personally will never support any of them at the ballot box, again.