Canada’s trade deficit narrowed to $2.4B in August as exports and imports both fell
Statistics Canada says the country’s merchandise trade deficit narrowed to $2.4 billion in August as both exports and imports fell.
The agency says the result compared with a deficit of $2.5 billion in July.
Economists on average had expected a deficit of $2 billion for August, according to financial data firm Refinitiv.
Both exports and imports edged lower in August after seeing double-digit percentage gains in June and July.
Total imports fell 1.2 per cent in August to $47.4 billion due in large part to lower imports of aircraft and other transportation equipment and parts.
Total exports fell 1.0 per cent to $44.9 billion as exports of motor vehicles and parts fell 6.8 per cent.