Canada May trade balance -3.44B vs +1.94B expected

<ul><li>Prior was +1.94B</li><li>Exports 61.53B vs 64.85B prior</li><li>Imports 64.97B vs 62.91B prior</li></ul><p>Exporrts fell 3.8% while imports rose 3.0%, leading to the largest trade deficit since October 2020 in a big surprise that will drag down Q2 GDP. Exports of energy products fell 7.3% on lower prices while imports of motor vehicles and parts rose 4.5% m/m and 22.4% y/y.</p>

This article was written by Adam Button at www.forexlive.com.