Study the following chart and then answer the questions below.Questions

1. What is the overall Balance of Trade for Canada for the year 2006? (1 mark)
2. Based on our Current Balance of Trade surplus, will the Canadian currency increase or decrease (based only on the data presented)? Explain your answer. (2 marks)
3. What percentage of our Canadian total exports went to the United States in 2006? Show your calculations. (2 marks)
4. In 2006, what percentage of Canadian total imports came from the United States? Show your calculations. (2 marks)
5. Did Canada have a surplus or deficit in our balance of trade with the United States? Explain your answer. (2 marks)
6. What was the Balance of Trade between the United Kingdom and Canada in 2006? (1 mark)

2002 2003 2004 2005 2006 Chart 1 Total Exports 414,038.5 399,122.1 429,067.1 451,783.0 455,696.5 in $millions United States 347,051.8 328,983.3 350,588.5 368,249.5 360,963.3 Japan 10,115.0 9,799.5 9,839.2 10,319.1 10,455.3 United 6,161.5 7,695.3 9,358.6 9,522.4 11,559.9 Kingdom Other EEC 16,294.3 16,423.4 17,317.9 18,972.9 21,270.4 Countries All other 34,415 36,220 41,962 44,719 51,447 countriesChart 2 Total Imports 356,727.1 342,709.5 363,308.1 388,281.7 404,394.6 in $millions United States 255,232.5 240,356.3 250,290.7 259,795.4 264,889.2 Japan 11,732.6 10,645.5 10,087.2 11,215.9 11,882.5 United 10,181.3 9,183.0 9,457.5 9,079.5 9,543.0 Kingdom Other EEC 25,867.0 26,001.0 26,992.7 29,455.2 32,494.7 Countries All other 53,713 56,522 66,479 78,735 85,585 countriesChart 3 Trade Balance 57,311.4 56,412.6 65,759.0 63,501.3 51,301.9 in $millions United States 91,819.3 88,627.0 100,297.8 108,454.1 96,074.1 Japan -1,617.6 - 846.0 - 248.0 - 896.8 -1,427.2 United - 4,019.8 -1,487.7 - 98.9 442.9 2,016.9 Kingdom Other EEC -9,572.7 -9,577.6 -9,674.8 -10,482.3 -11,224.3 Countries All other - 19,298 - 20,302 - 24,517 - 34,016 - 34,138 countries