Canada trade balance swings back to deficit on export drop

Bloomberg

Canada’s international trade balance swung into a deficit in May as exports dropped for a second month and imports
recovered.
The nation posted a merchandise trade gap of C$1.39 billion ($1.1 billion) in May from a revised C$462 million surplus the previous month, Statistics Canada reported in Ottawa. Economists were predicting a surplus of C$440 million.
Exports were down 1.6%, and shipments abroad have declined for three of the past four months. Exports were C$49.5 billion in May, compared with as high as C$51.3 billion in January.
Imports rise 2.1% in May, recovering from a drop of 4.1% the previous month.