Canada-Farm exports down.

CANADA-FARM EXPORTS DOWN.

The Canadian government reported Wednesday that the nation’s exports of agricultural and fishing products were down 7% in December from a month earlier to $3.4 billion (Cdn). Statistics Canada said, "The sector had been trending upward since June 2006. Decreases in exports of wheat, meat and meat preparations, and canola mostly accounted for the sector’s decline following two monthly gains." Imports of the same category of products were also down for the month, but less dramatically - down 1% to $2.5 billion.

The reduction in trade follows the general trend in many other economic sectors. "Exports and imports dropped in December amid a global economic downturn with exports falling at a faster pace than imports," the federal agency said. For the first time since March 1976, Canada suffered a trade deficit in December.