Canada's merchandise trade deficit shrinks to $1.3B in August
(AP Photo/Charles Krupa, File)
Published Thursday, October 11, 2012 9:54AM EDT
OTTAWA -- Statistics Canada says both imports and exports fell in August, narrowing the trade deficit with the world to $1.3 billion from $2.5 billion in July.
The agency says merchandise imports fell 3.1 per cent to $38.8 billion, with declines in every sector except energy products.
Exports edged down 0.1 per cent in August to $37.5 billion as exports of industrial goods and materials slipped and exports of energy products increased after six consecutive monthly declines.
Imports from the United States fell 4.3 per to $24.2 billion and exports rose 1.4 per cent to $27.6 billion, raising the trade surplus with the U.S. to $3.5 billion from $2 billion in July.
Exports to countries other than the United States fell 3.9 per cent to $9.8 billion, while imports declined one per cent to $14.6 billion.
The trade deficit with countries other than the U.S. rose to $4.8 billion from $4.5 billion in July.