Exports, imports both down in April more than 25%

Canada’s exports and imports plunged in April on falling oil prices and as the coronavirus pandemic shut down factories and retail stores, Statistics Canada said Thursday, adding the reopening of most auto assembly plants may help trade in the coming months. Total exports fell 29.7 per cent to $32.7 billion in April, the lowest level in more than 10 years, and imports declined 25.1 per cent to $35.9 billion, the lowest since February 2011. The April trade deficit widened to $3.25 billion from a revised $1.53 billion in March, larger than the $2.36 billion forecast by analysts. Exports of energy products fell $3.6 billion, the largest decrease on record, th agency said. Crude oil exports led the decline, plunging 55.1 per cent. Exports of passenger cars and light trucks slumped 84.8 per cent, while imports plunged 90 per cent.