Total imports decreased to 61.8 billion Canadian dollars (45.9 billion U.S. dollars), the lowest level since February 2022. On a year-over-year basis, imports were down 6 percent in January. In real, or volume, terms, total imports fell 4.1 percent in January compared with the previous month, the national statistical agency said.
Total exports decreased to 62.3 billion Canadian dollars (46.3 billion U.S. dollars) in January, a third consecutive monthly decline. Exports were down 7.5 percent in January compared with the same month in 2023, when exports reached a peak. In real, or volume, terms, total exports fell 1.8 percent in January 2024 compared with December 2023, the agency said.
With international trade in goods and services combined, exports decreased 1.7 percent to 79.3 billion Canadian dollars (58.9 billion U.S. dollars) in January, while imports fell 2.6 percent to 80.1 billion Canadian dollars (59.5 billion U.S. dollars), Statistics Canada said.
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