Canada trade deficit narrows in July

AFP, OTTAWA: Canada's trade deficit narrowed to Can$593 million (US$447 million) in July, the government statistical agency said yesterday.
Analysts had forecast a much larger deficit of Can$1.4 billion, after a Can$811 million shortfall was posted in June.
Exports increased 2.3 per cent to Can$45.5 billion in July, led by foreign sales of passenger cars and light trucks, consumer goods, and aircrafts and parts, according to Statistics Canada.
These gains were partially offset by a decrease in exports of energy products. Canada shipped six per cent less oil and crude bitumen in the month and 15 per cent less refined petroleum energy products abroad.
Year over year energy exports were down 35 per cent. Imports, meanwhile, rose 1.7 per cent to Can$46.1 billion.
Imports of crude oil and crude bitumen, aircraft, aircraft engines and parts, as well as communications and audio and video equipment were up. Canadians, however, imported less unwrought precious metals and precious metal alloys.

Canada trade deficit narrows in July

AFP, OTTAWA: Canadas trade deficit narrowed to Can$593 million (US$447 million) in July, the government statistical agency said yesterday. Analysts had forecast a much larger deficit of Can$1.4 billion, after a Can$811 million shortfall was posted in June. Exports increased 2.3 per cent to Can$45.5 billion in July, led by foreign sales of passenger cars and light trucks, consumer goods, and aircrafts and parts, according to Statistics Canada. These gains were partially offset by a decrease in exports of energy products. Canada shipped six per cent less oil and crude bitumen in the month and 15 per cent less refined petroleum energy products abroad. Year over year energy exports were down 35 per cent. Imports, meanwhile, rose 1.7 per cent to Can$46.1 billion. Imports of crude oil and crude bitumen, aircraft, aircraft engines and parts, as well as communications and audio and video equipment were up. Canadians, however, imported less unwrought precious metals and precious metal alloys.