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- Canada’s trade deficit widens to 2.45 billion in July
Canada’s trade deficit widens to 2.45 billion in July
Statistics
Canada announced on Thursday that Canada’s merchandise trade deficit stood at
CAD2.45 billion in July, widening from a revised CAD1.59-billion gap in June
(originally a CAD3.19-billion gap).
Economists had
expected a deficit of CAD2.50 billion.
According to
the report, Canada’s exports surged 11.1 percent m-o-m to CAD45.43 billion in
July, with motor vehicles and parts contributing the most to the overall
increase (+37.0 percent m-o-m).
Meanwhile,
imports jumped 12.7 percent m-o-m to CAD47.88 billion in July, also driven by
higher imports of motor vehicles and parts (+50.3 percent m-o-m).
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