This translation has been automatically generated and has not been verified for accuracy.More than a quarter of Canada’s exports and imports was lost to the COVID-19 shutdowns in April, evidence of the severe impact on international trade in what was likely the darkest month of the economic crisis.
The lockdowns aimed at containing the spread of COVID-19 began in mid-March, so April represented the first full month of data under the containment measures – an illustration of just how much of the economy was closed for business. “However, given physical distancing restrictions, complexities surrounding restarting supply chains, and low demand for new vehicles, a return to pre-COVID-19 production levels is not expected in the near term,” it cautioned.
The statistical agency said trade in services – which includes international travel and tourism – took a similar tumble in April, with exports down 21 per cent to $8.1-million, while imports plunged 31 per cent to $7.8-billion. Imports of travel services were down 88 per cent, while travel-service exports were down 54 per cent.
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