New data from Statistics Canada showed that the trade deficit widened in December to $649 million from $335 million in November. Import volumes increased 2.8 per cent, while prices declined 0.5 per cent. Meanwhile, export volumes rose 3.5 per cent, while prices declined 1.9 per cent. Imports were 7.6 per cent higher in 2014 than in 2013 while exports increased 10.3 per cent. Consequently, Canada's annual merchandise trade balance with the world swung from a deficit of $7.2 billion in 2013 to a surplus of $5.2 billion in 2014.
More market talk: