Trade Hit Hard

C

Published: Wednesday, 01/14/2009 12:00 am EST

Canada's trade surplus sunk to $1.3 billion in November as commodities markets, imports and exports all dropped, Statistics Canada reported. At $4.5 billion, Canada's trade surplus with the United States is at its lowest level since May 1999. Canada's total exports stand at $39.2 billion, the lowest total since January 2008, while imports are down to $38 billion. The decline in exports and imports is almost all due to a drop in the price of energy products as crude and petroleum prices continue on a downward trend.

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