Canada Posts 4th-Largest Trade Gap as Europe Exports Drop

Canada posted the fourth highest trade deficit on record in November as shipments to Europe fell, suggesting the country’s economy is struggling to emerge from an export-driven slump.

Canada recorded a C$1.96 billion ($1.99 billion) trade deficit in November, up from a revised C$552 million gap in October, Statistics Canada said today in Ottawa. The shortfall was wider than all 21 forecasts in a Bloomberg survey of economists that had a median estimate of a C$600 million deficit. Exports to the European Union fell 19.4 percent, led by metals.