OTTAWA - Canada's trade surplus with the world fell to $1.3 billion in November from a revised $2.3 billion in October.
Statistics Canada reports both exports and imports declined in November.
The agency says more than two-thirds of the drop in exports and almost all the decrease in imports were due to energy products, as crude petroleum prices continued to fall.
Exports slid for the fourth straight month, dropping 6.8 per cent to $39.2 billion, the result of falling prices and lower volumes, while the volume of exports fell 2.3 per cent.
Similarly, a combination of price and volume reductions pushed Canada's imports down 4.8 per cent to $38 billion, while the volume of imports fell 2.3 per cent.
Excluding energy products, exports declined 2.7 per cent while imports increased 0.6 per cent in November.
The trade deficit, excluding energy, expanded to $3.5 billion in November from $2.4 billion in October.
Exports to the United States fell 7.4 per cent to $28.9 billion, largely the result of a decline in energy products. The decrease in exports outpaced a 3.7 per cent drop in imports, putting Canada's trade surplus with the United States at $4.5 billion.
Imports from countries other than the United States declined 6.6 per cent, the result of falling imports of crude petroleum, while exports decreased five per cent. As a result, Canada's trade deficit with this group of countries narrowed for the second straight month to $3.2 billion.
