Cultural Trade Deficit

Canada's cultural trade deficit widened in 2007 as imports from its two largest trading partners, the United States and China, outpaced exports for the fourth year in a row, the Hollywood Reporter reported.

Published: Thursday, 10/16/2008 12:00 am EDT

Canada's cultural trade deficit widened in 2007 as imports from its two largest trading partners, the United States and China, outpaced exports for the fourth year in a row, the Hollywood Reporter reported. In an Oct. 10 report, Statistics Canada found that in 2007, Canada imported $3.48 billion in cultural goods, while exports totalled $1.74 billion. The U.S. takes in 90 per cent of Canada's exports and accounted for 75 per cent of imports last year, while Chinese exports accounted for 8.3 per cent of Canada's total intake.

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