Canadian Manufacturing

Statistics Canada says merchandise trade deficit edged up to $3.3B in September

September's result compared with a deficit of $3.2 billion in August

November 4, 2020  The Canadian Press

OTTAWA — Statistics Canada says the country’s merchandise trade deficit grew to $3.3 billion in September as both exports and imports climbed higher, but remained below their pre-pandemic levels.

The agency says September’s result compared with a deficit of $3.2 billion in August.

Economists on average had expected a $2.6-billion deficit for September, according to financial data firm Refinitiv.

Statistics Canada says exports rose 1.5% in September to $45.5 billion as exports of forestry products and building and packaging materials rose 10.4% in September.

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Exports of aircraft and other transportation equipment and parts rose 13.4%.

Meanwhile, imports rose 1.5% in September to $48.8 billion as imports of energy products rose 28.8% in September due to an 87.1% rise in crude oil imports.