OTTAWA, June 6 - Canada posted a smaller-than-expected merchandise trade deficit of C$1.05 billion in April, as energy and gold helped exports grow faster than imports, data showed on Thursday.
Total exports rose 2.6% in April, while imports increased by 1.1%, Statistics Canada said. By volume, exports grew 1.7% and imports declined by 0.2%.The category benefited from higher natural gas, crude oil and natural gas liquids exports, helping offset a decline in exports of refined petroleum products and nuclear fuel, Statscan said.The Canadian dollar was little changed after the numbers were released with the loonie trading 0.04% weaker to 1.3697 U.S. dollars, or 73 U.S. cents.
On Wednesday, the Bank of Canada lowered its key policy rate for the first time in four years and said further cuts were possible if inflation - last measured at 2.7% - continues to edge towards the bank's 2% target.
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