Statistics Canada has compiled their latest trade deficit numbers against the world for Canada revealing a marked $2 billion milestone in November from $552 million back in October. The rise is due primarily to the fall in exports by 0.9% and the continued increase in imports (climbing 2.7%).
With electronics and related equipment once again leading the way in imports ($39.5 billion) and motor vehicles coming in a close second, the drop in exports, amounted to $37.5 billion, was in areas of fishing and farming.
Not all was bad; exports to the U.S. actually rose nearly 4% ($28.3 billion) leading to a trade surplus of $3.3 billion with our American friends in November (a healthy bump up from October).
The declining exports reality for Canada is becoming a hard realization especially when you exclude the United States from the mix — a 13.4% decline.
The conservative administration needs to act soon or a recession may become nationally widespread and potentially permanent, as is the case with our south of the border cousins.
The real issue is not the stability of our economy is the excessive spending problem and we need t gut the silly social spending so our business leaders can unbuckle their belts and make the necessary innovations to make our country strong.
And if not all you need to do is look at America and see the consequences of social unrestrained spending riff-raff .
It is cyclic. Any one who actually pays attention to this issue will know that we go into this range around tihs time of year. Watch next quarter.
I fear for my beloved country. When i grew up we had a strong economy year over year and now i feel we are bleeding out by the hour.
My heart bleeds and i fear i don’t know what can be done to stop the pain.
Manufacturing is a dead sector in most developed nations. It is only for second world nations like China who can con their citizens into working for nothing so the rest of the world can live like kings.
Canada must learn to provide services through tech or we will go the way of the dodo!
Just sayin’.
Cest la vie! Every country goes through such growing pains. Welcome to the big leads Canada!
We can’t get enough of cheaply made asian electronics! Woo hoo! More cell phones for everyone.
I never understood the obsesssion with devices. We should be interacting with each other one-on-one, not by email.
Let sleeping dogs lay. Are position in the world is much better than others. We survived the 2008 scare and most of the world views us as a model of how a country needs to be run.
Wow no wonder the US dollar is so weak we are buying your goods you crazy canucks! 😛