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Canada’s trade deficit doubles as oil prices wane
Canada’s trade deficit rose abruptly in November, as weak oil prices and a decline in demand for chemicals led to a decline in export revenue. The deficit jumped from $851 million in October to $2.06 billion in November, Reuters reported, citing data from Statistics Canada. The value of Canada’s exports fell 2.9% as the value of oil shipped from the country declined nearly 18%, weighed down by the steep discount for Canada’s heavy oil.......
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