GenX
10-09-2007, 05:57 PM
Canada will record the largest automotive trade deficit in its history this year, according to a report from the Canadian Auto Workers union, which is urging Ottawa to reconsider the direction of its economic and trade policy.
In a report released Monday, CAW economist Jim Stanford said the deficit - where more vehicles and parts are leaving the country than coming in - is expected to be around $8 billion for 2007, the largest single-year drop to date.
"Not only is Canada's automotive trade performance now the worst-ever; it is still deteriorating at a record rate," Stanford said in the report titled "Canada's Deteriorating Automotive Trade Performance."
The report, which uses Statistics Canada data reported on an Industry Canada website, predicts a year-end surplus in finished vehicle trade of under $14 billion, offset by a deficit in parts of close to $22 billion.
LINK (http://canadianpress.google.com/article/ALeqM5gkxdvjlXrUsikB0gzafDCwU0Qeng)
In a report released Monday, CAW economist Jim Stanford said the deficit - where more vehicles and parts are leaving the country than coming in - is expected to be around $8 billion for 2007, the largest single-year drop to date.
"Not only is Canada's automotive trade performance now the worst-ever; it is still deteriorating at a record rate," Stanford said in the report titled "Canada's Deteriorating Automotive Trade Performance."
The report, which uses Statistics Canada data reported on an Industry Canada website, predicts a year-end surplus in finished vehicle trade of under $14 billion, offset by a deficit in parts of close to $22 billion.
LINK (http://canadianpress.google.com/article/ALeqM5gkxdvjlXrUsikB0gzafDCwU0Qeng)