Exports up, imports down, trade deficit reduced in October
by The Canadian Press
StatsCan says imports fell to $38.3-billion, down 5.7 per cent from record high reached in June
OTTAWA—Statistics Canada says the country’s merchandise trade deficit shrank to $169-million in October, a big improvement over the September figure when the deficit was $1-billion.
Exports rose one per cent to $38.1-billion with farm, fishing and intermediate food products leading the gains.
Declines in exports were led by metal ores and non-metallic minerals.
Meanwhile, Statistics Canada says imports fell 1.2 per cent to $38.3-billion and were down 5.7 per cent from the record high reached in June.
Imports from the United States rose 1.6 per cent to $24.6-billion and exports edged down 0.2 per cent to $27.4-billion, cutting the trade surplus with the U.S. to $2.8-billion from $3.2-billion in September.
Imports from countries other than the U.S. fell 5.8 per cent to $13.7-billion and exports rose 4.2 per cent to $10.7-billion, reducing the trade deficit with those countries to $2.9-billion from $4.2-billion in September.