Canada's reliance on energy sector increasing

September trade figures confirm that Canada is increasingly dependent on oil and gas. While the trade deficit was down, it was only because of a 22.9% increase in oil and gas exports in the last year. Without that, Canada's trade deficit would have increased.

A recent Huffington Post article pointed out that the recent increase is part of a long term trend.

Since 2005, Canada trade balance for non-energy products has dropped by about $100 billion. Canada has now reached the point where energy products account for over 25% of our exports.