September merchandise trade deficit narrows to $1.3B: StatCan

Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1% to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4% as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4%. Exports of energy products dropped 2.6% as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4% to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7%.

In volume terms, total exports rose 1.4% in September while total imports were essentially unchanged in September.

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.