Canada trade deficit narrows to $924 million in October
2024.12.05 08:47
OTTAWA, Dec 5 (Reuters) – Canada posted a trade deficit of C$924 million ($657 million) in September, as the growth in exports wasn’t able to overtake the growth in imports, Statistics Canada said on Thursday. This was the eighth consecutive monthly deficit.
Due to the implementation of new software at the Canadian Border Services Agency, StatsCan said that this month’s data includes a greater degree of estimation.
Exports were up by 1.1%, on metal and non-metallic mineral products, as well as pharmaceuticals. Imports grew by 0.5%, also on metal ores and non-metallic mineral products, as well as energy products.
Following are the seasonally adjusted figures in billions of Canadian dollars:
Merchandise trade Oct Sep (rev) change pct Sep (prev)
Balance -0.924 -1.300 n/a -1.264
Exports 64.217 63.522 +1.1 63.880
Imports 65.141 64.822 +0.5 65.145
NOTE: Analysts surveyed by Reuters forecast a trade deficit of C$790 million in October.
($1=$1.4061 Canadian)
