$1.1 Billion Trade Deficit

trade deficit

CBJ — The country posted a merchandise trade deficit of $1.1 billion in July compared with a revised deficit of $55 million June.

The result for June was updated from what was originally reported as a $136-million surplus.

Statistics Canada reports that imports were up 1.2% to $50.9 billion in July, with gains in six of 11 sectors.

Imports of consumer goods were up 2.4%, while aircraft and other transportation equipment and parts rose 10.2%.

Total exports fell just under 1% to $49.8 billion in July as energy product exports fell 6.7% in July due to a 7.7% drop in crude oil exports.

@CanBizJournal

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