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Canada's trade surplus of $4.8 billion in 2014 turned to a deficit of $23.1 billion in 2015

April 14, 2016

According to Statistics Canada's Annual review the value of imports into the country increased 4.5% in 2015, while that of exports declined 0.8%. As a result, Canada's annual merchandise trade balance with the world went from a surplus of $4.8 billion in 2014 to a deficit of $23.1 billion in 2015.

The value of Canada's total merchandise trade (exports plus imports) rose 1.9% from $1,053 billion in 2014 to $1,072 billion in 2015. By comparison, nominal gross domestic product increased from $1,973 billion in 2014 to $1,986 billion in 2015.

The Federal agency says the change in international trade activity in 2015 was primarily attributable to prices.

Specifically, annual trade figures were strongly influenced by changes in exchange rates and energy prices, as import prices were up 3.3% while export prices fell 4.6%.

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