Total trade with the United States — Canada’s largest trading partner — fell by Can$23.4 billion, representing more than 90 per cent of Canada’s decreased trade activity in April. — AFP pic
“These declines, in both absolute value and per centage, are unparalleled, as monthly decreases of this magnitude have never been observed,” Statistics Canada said. As such, no new vehicles were manufactured in April. The few vehicles that were exported were from inventories or used. However, due to physical distancing requirements, challenges in restarting supply chains, and low demand for new cars “a return to pre-Covid-19 production levels is not expected in the near term,” it added.This drop was led by a sharp decline in crude oil exports, which fell 55.1 per cent.Because many retail stores were also closed in April, demand for consumer products plummeted too, led by fewer imports of clothing, footwear and accessories.
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