Energy, gold exports help Canada narrow trade deficit in April

Canada posted a smaller-than-expected merchandise trade deficit of $1.05-billion in April, as energy and gold helped exports grow faster than imports, data showed on Thursday.

The Canadian dollar was little changed after the numbers were released with the loonie trading 0.04 per cent weaker at 1.3697 to the U.S. dollar, or 73 U.S. cents. Canada’s economic growth is expected to have resumed in April after stalling in March, helped by mining, quarrying, and oil and gas extraction, Statscan said in preliminary GDP forecast released last week.

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