Economy

Canada's Economy Rebounded In 2021 | Y95.5 – CJLS

Published

3 years ago

March 1, 2022

The Canadian economy rebounded in 2021, posting a 4.6 per cent growth after a pandemic hampered 2020 resulted in a 5.2 per cent decline.

Statistics Canada reported household spending on consumer goods and increased demand for houses proved to be the largest contributors.

Fourth-quarter growth resulted in an annualized rate of 6.7 per cent.

While real gross domestic product remained practically unchanged in December, to the surprise of many, early indications for January 2022 show 0.2 per cent growth. Predictions assumed COVID-19 restrictions implemented to combat the Omicron variant had slowed the economy.

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Economy

September merchandise trade deficit narrows to $1.3 billion: Statistics Canada

Published

8 hours ago

November 5, 2024

Anne Joseph

OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.

In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.

This report by The Canadian Press was first published Nov. 5, 2024.

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