Canada’s international trade in services deficit narrowed to $0.3 billion in April from $0.5 billion in March, as service imports fell -1.1% MoM and exports declined -0.5% MoM.

• Travel service imports fell -4.1% MoM to $4.6 billion, driven by lower Canadian spending in the US.
• Commercial service imports slipped -0.4% MoM, while transportation service imports rose +1.3% MoM.
• Travel service exports dropped -3.7% MoM to $5.2 billion due to weaker spending by US and overseas visitors.
• Commercial service exports rose +0.7% MoM to $10.7 billion, led by financial services tied to market activity.
• In goods trade, exports fell -10.8% MoM and imports -3.5% MoM, widening the merchandise trade deficit to $7.1 billion from $2.3 billion.