Statistics Canada announced that Canada’s merchandise exports decreased 0.1% in September, while imports fell 0.4%.
As a result, Canada’s merchandise trade deficit with the world narrowed from $1.5 billion in August to $1.3 billion in September.
Following a drop of 1.4% in August, total exports edged down 0.1% in September, a third consecutive monthly decrease. Despite this decline, more product sections increased (six) than decreased (five) in September.
Imports of metal and non-metallic mineral products decreased 12.7% and contributed the most to the overall decline in September. Imports of energy products (+13.6%) partially offset the overall decline.
Exports to the United States were up 1.6% in September, partly because of higher exports of aircraft and unwrought gold. Meanwhile, imports from the United States increased 0.8%. As a result, Canada’s merchandise trade surplus with the United States widened slightly from $7.8 billion in August to $8.3 billion.
Exports to countries other than the United States fell 5.3% in September. Lower exports to the United Kingdom (unwrought gold) contributed the most to this drop. Exports to Switzerland (unwrought gold) were also down. Imports from countries other than the United States fell 2.3%. Lower imports from Switzerland (unwrought gold) and the Netherlands (passenger cars and light trucks) contributed the most to the decrease. Canada’s trade deficit with countries other than the United States widened slightly from $9.3 billion in August to $9.6 billion in September.