Take Stock – December 11

The number of American vehicles imported into Canada has surpassed 100,000 units for the fourth straight year.

Canada imports of U.S. vehicles surpass 100,000

The number of American vehicles imported into Canada has surpassed 100,000 units for the fourth straight year.

The North American Automobile Trade Association says 13,604 vehicles in November brought the year-to-date total to 112,399. Kevin Callahan, the CEO of Import Trader, which helps Canadians buy American vehicles, says there are two key reasons for the imports. He says people are drawn to lower prices in the U.S. and they want hard-to-find colours or options unavailable in Canada. More than 650,000 Canadians are driving vehicles that have been imported from the United States in the past four years. More than one million vehicles have been imported since Ottawa introduced a program in 1995 to allow Canadians to import American vehicles. “The savings can be quite significant depending on the model,” said Callahan.


Trade surplus in October: Statscan

Canada’s merchandise exports rose 3.4 per cent in October, led by a strong gain in exports to the United States which accounted for three-quarters of the increase.

Statistics Canada reports a trade surplus with the world of $428 million, as imports decreased 0.8 per cent in October compared with a deficit of $850 million in September.

Exports increased by $1 billion to $31.1 billion, as a result of a 2.6 per cent rise in volumes and a 0.8 per cent increase in prices.

It was the second straight monthly increase in the value of exports and the fourth advance in five months. Industrial goods and materials led the growth, representing more than half of the increase in exports.

Energy products, agricultural and fishing products, as well as automotive products also contributed to the gain, while lower exports of machinery and equipment slowed the increase.

Imports declined to $30.7 billion, as prices fell 1.2 per cent and volumes inched up 0.3 per cent.

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