April 6, 2016 11am eastern

Statistics Canada has provided an annual review of Canada’s 2015 imports and exports.

Canada had a $23 billion dollar trade deficit in 2015 whereas it had a $4.8 billion surplus in 2014.

The deficit can be attributed to currency fluctuations which made imports significantly more expensive and to lower energy and commodity prices received for exports.

The value of crude and bitumen exports fell 39% due to lower prices even as the volume rose 5.8%. The volume increase would have added to the excess supplies of oil on world markets which has depressed prices.

“The share of energy products of total exports fell from 17.7% in January 2015 to 13.0% by December 2015.”