Analytical Reviews

Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Canadian Economy Cooled Down As Exports Fell


October, 06 2017
watermark Economic news


The trade deficit in Canada expanded last month as exports declined for three straight months, which indicates that Canadian economy cooled down after the economic development in the first half of 2017. According to the report from the Statistics Canada, the merchandise trade deficit of the country gained $3.4-billion in the previous month versus $3-billion in July. The losses in August was really high, overcoming economist’s expectations worth $2.6-billion. Economists presumed that trade would likely rebound due to the sluggish performance during the months of June and July.

Currently, the country was able to gain a $10.1-billion worth of cumulative deficit in the last quarter data, which tripled the deficit amount of the prior three months. This further shows that Canada weakened in Q3. The indicator for the economists is the slackening growth of exports and it is considered as a major factor in the  4.5-percent annualized growth in Q2. Moreover, exports dropped by 1 percent in the month which is the third decline in a row. While volumes are down by 1.9 percent amid high prices.

After the surge in May, exports slipped almost by 11 percent in value and 6 percent in volume. The downswing was caused mainly by the sharp currency appreciation of the loonie dollar. As the Canadian dollar jumped by 13 percent against the U.S. dollar during early May and September and made Canadian products more expensive for foreign consumers.

On the other hand, few economists mentioned that the US demand for Canadian products also slowed down due to disastrous hurricanes that hit the southern region of the US, recently. They anticipated that trade figures will bounce back in demand considering that these countries returned to normal business operations and recovered from the damage caused by these calamities.

コメントする

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.