Canada posts record trade deficit in Sept

AFP, OTTAWA: Canada’s trade deficit rose to a record Can$4.1 billion (US$3.05 billion) in September, mainly due to the import of an expensive module for a North Atlantic oil project, the government said Friday.
Imports jumped 4.7 per cent to a record Can$47.6 billion, with exports remaining stable at Can$43.5 billion, according to Statistics Canada.
The rise in the deficit was driven by the one-off import from South Korea of a module for the Hebron oil production project offshore Newfoundland and Labrador, the agency said.
Excluding that transaction, total imports would have decreased 1.6 per cent, it said.
Trade with the United States, Canada’s largest trading partner, came to a surplus of Can$2.7 billion, up from Can$2.6 billion in August.
Imports of aircraft fell by half in September to Can$142 million, their lowest level since August 2014, and purchases of cars and light trucks fell 5.5 per cent to Can$4.1 billion.

Canada posts record trade deficit in Sept

AFP, OTTAWA: Canadas trade deficit rose to a record Can$4.1 billion (US$3.05 billion) in September, mainly due to the import of an expensive module for a North Atlantic oil project, the government said Friday. Imports jumped 4.7 per cent to a record Can$47.6 billion, with exportsremaining stable at Can$43.5 billion, according to Statistics Canada. The rise in the deficit was driven by the one-off import from South Korea of a module for the Hebron oil production project offshore Newfoundland and Labrador, the agency said. Excluding that transaction, total imports would have decreased 1.6 per cent, it said. Trade with the United States, Canadas largest trading partner, came to a surplus of Can$2.7 billion,up from Can$2.6 billionin August. Imports of aircraft fell by half in September to Can$142 million, their lowest level since August 2014, and purchases of cars and light trucks fell 5.5 per cent to Can$4.1 billion.