Business
Gold Exports Mask Weakness in Canada’s Broader Trade Picture
SOURCE:Bloomberg|BY:Mario Baker Ramirez
Canada posted a C$583 million ($421 million) trade deficit in October, but surging precious‑metal exports — mostly gold — are doing a lot of heavy lifting. Strip those out, and Canada would have a C$8.2 billion shortfall.
Canada posted a C$583 million ($421 million) trade deficit in October, but surging precious‑metal exports — mostly gold — are doing a lot of heavy lifting. Strip those out, and Canada would have a C$8.2 billion shortfall. The gap underscores how dependent the country’s trade fortunes have become on global demand for bullion.