Statistics Canada reports trade deficit narrowed to $978M in September

OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $978 million in September compared with a revised deficit of $1.2 billion in August.

Economists on average had expected a deficit of $700 million, according to financial markets data firm Refinitiv.

The deficit came as total imports fell 1.7% to $50.8 billion in September.

Imports of metal and non-metallic mineral products fell 9.2% in September due to a drop in gold imports.

Meanwhile, total exports fell 1.3% to $49.8 billion.

Exports of metal and non-metallic mineral products fell 7.3%, while exports of energy products dropped 2.6% due to lower crude oil exports.