Trade Deficit Down in July
CBJ — Statistics Canada says the country’s merchandise trade deficit with the world shrank to $114 million in July, the smallest since a surplus in December 2016, as the country’s trade surplus with the United States grew to the biggest in a decade.
The total value of Canada’s exports was up 0.8%, mainly because of higher crude oil prices, while the value of imports declined 0.4% due to fewer aircraft imports.
Exports to the United States rose 3.3% during July to $38.4 billion, while American imports edged down 0.1% to $33.1 billion in July.
Canada’s merchandise trade surplus with the United States widened to $5.3 billion in July, from $4.1 billion in June.