Canada's goods and services trade deficit reached 6.6 billion Canadian dollars (approximately $4.85 billion) in May, improving from a deficit of 7.5 billion Canadian dollars observed in April, Statistics Canada revealed in a report on Thursday.
Exports of goods and services rose by 0.8% on a monthly basis to 78.7 billion Canadian dollars, while imports dipped by 0.8% to 85.3 billion Canadian dollars.
The country's goods trade deficit improved from 7.1 billion Canadian dollars in April to 5.9 billion Canadian dollars in May, with exports increasing by 1.1% and imports falling by 1.6%. Exports to the United States declined for the fourth consecutive month, slipping by 0.9%, while imports from the US dropped by 1.2%.
