Canadian Manufacturing

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

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

November 5, 2019  The Canadian Press

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.

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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.

 


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