OTTAWA, Ont. — The latest export figures from Statistics Canada indicate motor carrier concerns about the negative impact the high Canadian dollar will have on their valuable U.S. hauls are valid.<br>
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Canadian companies exported $32.1 billion in merchandise in November, down 1.1% from October, while importing goods worth $27.8 billion, up 1.7%, Statistics Canada reported this morning.<br>
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Canada’s exports to the U.S. market were $26.4 billion in November, down a marginal 0.1% from October, the third monthly decline in the last four months. Imports from south of the border were up 1.6%.<br>
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“A strong Canadian dollar appears to be exerting some downward pressure on export prices, which have fallen 8.4% over the last year, as the exporting community adjusts to its valuation,” Statistics Canada commented in its Daily Bulletin.<br>
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Canada’s three largest export sectors declined in November; machinery and equipment, automotive products and industrial goods and materials all fell, while all other sectors increased.<br>
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Import growth, meanwhile, was generally widespread with the exception of automotive products, agricultural and fishing products and forestry products.<br>