Canada's merchandise trade deficit narrowed to $5.9B in May

Canada's merchandise trade deficit narrowed to $5.9 billion in May, according to data from Statistics Canada, after hitting a record high in April.

The country's exports rose by 1.1 per cent, after falling steeply by 11 per cent the month prior. It also marked the first increase in exports in four months.

Overall, imports were down for the third month in a row, falling by 1.6 per cent, according to Statistics Canada.

In April, Canada's trade deficit ballooned to $7.1 billion, from $2.3 billion in March. 

More to come.