Canada Imports reflect the US dollar value of imported goods in the specified month. The dollar calculation of the import value provides for a proper comparison of Canada's imports with other countries and a correct evaluation of trade statistics. Economists use the indicator to evaluate the structure and intensity of trade flows.
A trade deficit is formed when more goods and services are imported than exported. For countries with highly developed economies, like Canada, it means that labor-intensive production is transferred abroad, thus restraining inflation and maintaining high standard of living. A trade deficit in these cases is covered by other methods of economic interaction, for example by issuing debt instruments.
A change in the imports volume is an important factor in evaluating economic situation. This indicator is a significant component of the country's GDP.
The impact of imports on Canadian dollar quotes is ambiguous and depends on the context of business cycles and other economic indicators, such as production dynamics. Generally, Canada residents need to sell the Canadian dollar and purchase foreign currency in order to pay to the supplier for import deliveries. Therefore, a sharp increase in imports volume can affect CAD quotes negatively. However, the effect of this trade balance component on CAD volatility is usually of a short-term nature.
The chart of the entire available history of the "Canada Imports" macroeconomic indicator.
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