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- Canada’s trade deficit narrows in August
Canada’s trade deficit narrows in August
Statistics
Canada announced on Friday that Canada’s merchandise trade deficit stood at CAD0.96
billion in August, narrowing from a revised CAD1.38 billion gap in July (originally
a CAD1.12-billion gap).
Economists had
expected a deficit of CAD1.00 billion.
According to
the report, the country’s exports rose 1.8 percent m-o-m in August, due mainly
to a gain in exports of energy products (+3.9 percent m-o-m) and aircraft (+38.7
percent m-o-m). Meanwhile, imports increased 1.0 percent m-o-m in August,
mostly on higher imports of non-metallic mineral products (+9.4 percent m-o-m) and
energy products (+9.7 percent m-o-m).
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