Canada just racked up a record trade deficit as the value of

OTTAWA — Statistics Canada says the country’s merchandise trade deficit grew to a record $4.6 billion in December as lower crude oil prices prompted a drop in exports.The result followed a trade deficit of $2.0 billion in November.Exports were down 3.8 per cent to $46.3 billion in December. We’re getting a look at the true state of Canada’s economy — and it’s no world beater Canada’s economy practically grinds to a halt — and nobody saw it coming Stephen Poloz’s dashboard: The latest charts that matter most to the Bank of Canada Exports of energy products fell 21.7 per cent to $6.4 billion in December, the lowest level since July 2016. Excluding energy products, exports were essentially unchanged in December.Total imports rose 1.6 per cent to $50.9 billion in December.Imports of energy products rose 19.7 per cent to $3.3 billion while imports of motor vehicles and parts were up 4.0 per cent to $9.4 billion in December. read more