Canada's trade deficit in November narrowed unexpectedly to the smallest level in the two years

[mEDITate-OR:
wonder how it is possible for Canadian goods to become more expensive...
But, they are selling more stuff abroad, and to U.S.
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For the last three years Canada's govt has been trying to keep the Loonie down so those of U.S. who want to build more houses would buy more Canadian lumber. Oddly, that hasn't happened. Go figure.
But, when you look at the details, you will see that Canada exports more than crude oil and timber and auto parts. And, the rest of the world LIKES things made in Canada.
Truly, un-American.
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The trade balance has recorded deficits in 17 of the 24 months since December 2008 when it posted the first gap since 1976.
Exports in November climbed 0.8% to C$34.30 billion
Overall export prices were up 2.8% but volumes fell 2%.
Volumes of auto products sank 10% as some plants closed temporarily during the months.
Imports fell 3.2% to C$34.38 billion, led by a 15.1% plunge in volumes of energy products.
Canada's trade surplus with the U.S., its largest trading partner, widened to C$3 billion from C$1.71 billion
The trade deficit with countries other than the U.S. declined to C$3.1 billion from C$3.2 billion
exports grew 1.1%, the fifth straight gain
Exports of industrial goods and materials were valued at C$9.54 billion, increasing 6.6% from the prior month
Shipments of precious metals drove a 21.7% jump in exports of metals and alloys to C$4.2 billion.
Exports of energy products rose 3.2% to C$6.91 billion as prices rose 3.6%.
The increase was largely due to a 12.5% gain in exports of crude petroleum.
Exports of natural gas fell 17.1%, the fourth consecutive decline.
13% decline in shipments of passenger cars.
Medicinal and pharmaceutical products drove a 11.5% increase in exports
Imports of precious metals, notably silver, surged 24.3% to a record high C$1.3 billion.
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Trade deficit shrinks in November
http://www.theglobeandmail.com/report-on-business/trade-deficit-shrinks-in-november/article1868347/
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Canada Nov Trade Deficit Narrows Unexpectedly To Smallest In 2 yrs
http://online.wsj.com/article/BT-CO-20110113-707997.html
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