It was the 11th monthly trade deficit in a row, and the 7th largest in Canadian history.
Canada’s December trade deficit expanded to $3.19 billion, far above predictions of a $2.20 billion deficit made by analysts.
As noted by BNN, Imports reached $49.70 billion, the largest figure recorded.
Disturbingly, imports of energy products increased by a whopping 16.9%.
Showing the absurdity of this situation, energy exports also increased in December by 6.2%, which was a result of pipeline disruptions coming to an end.
The fact that Canada is importing energy despite our gigantic oil reserves shows the continued dysfunction of inter-provincial relations, and the consequences of federal policies that are damaging to our energy independence through stifling regulations and bureaucracy.
Trade deficits have been a continuous trend lately, as the December deficit was the 11th monthly deficit in a row. It was also the 7th largest trade deficit in Canadian history.
Spencer Fernando
“The fact that Canada is importing energy despite our gigantic oil reserves shows the continued dysfunction of inter-provincial relations, and the consequences of federal policies that are damaging to our energy independence through stifling regulations and bureaucracy.” The foundation of those damaging federal policies is subscribing to the notion of man-made global warming and sadly the Conservatives subscribe to that notion by Scheer having whipped his MPs to vote in support of a Liberal motion affirming the Paris Climate Accord, an Accord that the Liberals point to as why they must do what they do. CPC MP Cheryl Gallant boldly… Read more »
Didn’t the Clown Prince, Justin Mohammed Trudeau praise his trade deals not that long ago??
Maybe Canada’s trade deficits will balance themselves. Apparently our annual budget does that because the Lieberals raise taxes on a whim.
Al, I was just going to type the same thing, you beat me to it.
and yet…. the budget will balance itself… justin is just not up to the job… (btw, love to see an audit on the trudeau foundation, over 535 million in donations from out of country sources in 2016. why?, what do they want in return?)