July 6, 2018 / 1:01 PM / 2 months ago

Canada trade deficit expands as imports rise, exports edge down

OTTAWA (Reuters) - Canada’s trade deficit in May grew to C$2.77 billion ($2.11 billion) from C$1.86 billion in April on a sharp rise in imports of airliners and gasoline while exports edged down, Statistics Canada said on Friday.

Analysts in a Reuters poll had predicted a shortfall of C$2.05 billion. Canada has only recorded two monthly trade surpluses since October 2014.

Imports rose by 1.7 percent, pushed up by a 17.7 percent jump in shipments of aircraft and other transportation equipment and parts. Most of the rise was accounted for by the delivery of several airliners from the United States.

Imports of refined petroleum energy products increased by 13.9 percent, mainly due to higher demand for gasoline. A number of Canadian refineries were temporarily shut down in May.

Exports slipped by 0.1 percent as shipments of motor vehicle and parts fell by 3.6 percent amid a disruption in the supply of auto parts from a plant in the United States.

The United States took 74.2 percent of all Canadian goods exports in May. Exports to the United States slipped by 0.2 percent while imports increased by 1.0 percent and as a result, the trade surplus with the United States shrank to C$3.29 billion in May from C$3.69 billion in April.

Reporting by David Ljunggren; Editing by Nick Zieminski

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