Canada trade deficit widens

Canada posted a $544 million trade deficit in November, as exports to the United States and Britain fell sharply, Statistics Canada (Statscan) reported Wednesday.
The deficit followed a $276 million trade surplus in October. Analysts had expected a smaller $169 million November deficit.
Statscan said exports to the United State's Canada's biggest trading partner decreased 2.6 percent to $27.8 billion in the month. Britain led a drop in exports to other countries, down $655 million. The decline was partially offset by increased exports to Mexico and Hong Kong.
Statscan reported widespread declines in imports, with the biggest decreases recorded in transportation, computers and electronics, and consumer goods. Imports from the United States, Belgium, China, and Saudi Arabia declined.
Exports of energy products led by crude oil and bitumen, as well as coal, fell for a sixth consecutive month in November. Exports of precious metals and alloys also fell, while nickel exports increased, the report said.