Canada posts $1.1B merchandise trade deficit for August | Investment Executive

Oct 15, 2024

The result came as total exports fell 1% in the month: StatCan

Statistics Canada says the country posted a merchandise trade deficit of $1.1 billion in August as lower oil prices weighed on exports.

The agency says the result compared with a revised deficit of $287 million in July. The initial reading for July released last month pointed to a surplus of $684 million for the month.

The result came as total exports fell 1% in to $64.3 billion in August.

Exports of energy products fell 3%, as shipments of crude oil fell 4.1%, mainly due to lower prices.

Total imports edged up 0.3% in August to $65.4 billion as imports of motor vehicles and parts rose 2.4%.

In volume terms, total exports edged up 0.1% in August, while imports increased 0.4%.

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