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Canada's trade deficit with the world widened to Can$2.1 billion (US$1.6 billion) in November, as exports fell for a fourth consecutive month, according to government data released Tuesday. "As was the case in October, energy products contributed the most to the decline" in exports, Statistics Canada said in a statement.

The deficit came in slightly higher than the Can$1.9 billion economists had forecast, following a Can$851 million shortfall the previous month.

Total exports, according to the government statistical agency, fell 2.9 percent to Can$48.3 billion. Crude oil exports led the decrease, down 17.7 percent in large part due to lower prices. The drop was partially offset by higher exports of coal to South Korea, China and Vietnam.

A 26.4 percent plunge in exports of lubricants and other petroleum refinery products also contributed to the decline, mostly on lower exports of motor gasoline blending stock to the northeastern United States.

Exports of pulp and paper fell too.

Total imports, meanwhile, fell 0.5 percent to Can$50.4 billion, led by motor vehicles and parts.

November marked the ninth decrease in 12 months of passenger cars and light trucks imports, coinciding with lower Canadian demand.

Copyright Agence France-Presse, 2019


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