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U.S.-Canada Trade Gap Hits $1.1B

by G. Scott Thomas

Friday, December 10, 2010

Canada held a trade advantage over the United States of $1.09 billion in October, according to figures released Friday morning by the U.S. Bureau of Economic Analysis.

American companies exported $22.19 billion of goods to Canada, but U.S. consumers purchased $23.28 billion of Canadian imports the same month, yielding a deficit of $1.09 billion.

The cumulative U.S.-Canadian trade gap was $22.03 billion for the first 10 months of 2010. That total is of particular importance to Western New York, since Canada is far and away the biggest international trading partner for companies in the Buffalo area.

Eleven other countries ran up bigger trade advantages over the United States in October:

• China, $25.52 billion

• Mexico, $5.75 billion

• Japan, $5.67 billion

• Germany, $3.30 billion

• Ireland, $2.71 billion

• Nigeria, $1.84 billion

• Russia, $1.55 billion

• Saudi Arabia, $1.40 billion

• Italy, $1.34 billion

• Thailand, $1.27 billion

• Venezuela, $1.23 billion
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