U.S. - Canada Trade Gap Expands by $2.33 B

July 15, 2010 Updated Jul 15, 2010 at 11:04 AM EDT

By WKBW Internet

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U.S. - Canada Trade Gap Expands by $2.33 B

July 15, 2010 Updated Jul 15, 2010 at 11:04 AM EDT

BUFFALO, NY (WKBW/BIZ FIRST) - America's trade deficit with Canada ballooned by another $2.33 billion in May, according to new figures from the U.S. Bureau of Economic Analysis.

The United States exported $21.31 billion of goods to Canada during the month, but American industries and consumers purchased $23.64 billion of Canadian goods, resulting in the deficit.

Only four countries rang up larger trade imbalances with the United States in May, led by China's advantage of $22.28 billion. Other large U.S. deficits were $6.15 billion with Mexico, $3.61 billion with Japan, and $2.90 billion with Germany.

The Bureau of Economic Analysis tracks America's trade with 41 nations. Click here for the latest breakdown for all of those countries.

The U.S.-Canadian figure is the most important in the Buffalo area, since Canada is the largest international trading partner for Western New York companies. America's trade deficit with Canada totaled $13.91 billion for the first five months of 2010.

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