OTTAWA: Canada's trade deficit widened to Can$2.5 billion ($2.0 billion) in January -- its second largest ever -- as exports fell due to plunging crude oil prices, the government statistics agency said Friday.
The figure was more than double December's trade deficit and the largest since a record Can$2.9 billion deficit in July 2012, said Statistics Canada.
Exports declined 2.8 percent to Can$42.6 billion, while imports were largely unchanged from December.
Exports of crude bitumen fell 23 percent. Exports of metals and non-metal mineral products were also down, while passenger car and truck shipments abroad increased.
Imports of communications and audio and video equipment soared and imports of industrial machinery and equipment hit a record high. But these gains were offset by a drop in oil imports.
Exports to the United States -- Canada's neighbor and largest trading partner -- fell 3.1 percent in the month. Imports from the United States were also down.
The Netherlands and Italy led a widespread decrease in exports to Canada's other trading partners. There was, however, an uptick in shipments to Britain.
Imports from most countries other than the United States edged up, notably from China. Britain and Saudi Arabia were the exception, both shipping less to Canada in January.
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