Statistics Canada announced that Canada’s merchandise exports increased 1.1% in October, while imports rose 0.5%.<\/p>\n
As a result, Canada’s merchandise trade deficit with the world narrowed from $1.3 billion in September to $924 million in October.<\/p>\n
The Federal Agency notes the October export increase comes after three consecutive monthly declines. Despite the increase, 8 of the 11 product sections were down in the month.<\/p>\n
The 0.5% increase in imports comes from higher imports of metal ores and non-metallic minerals and energy products, which were were partially offset by decreases in imports of consumer goods and basic and industrial chemical, plastic and rubber products.<\/p>\n
Exports to the United States fell 2.8% in October, while imports rose 1.1%. As a result, Canada’s trade surplus with the United States narrowed from $7.9 billion in September to $6.2 billion in October.<\/p>\n
Exports to countries other than the United States were up 13.1% in October, largely driven by higher exports of unwrought gold to the United Kingdom and Hong Kong. Imports from countries other than the United States were down 0.5% in October. As a result, Canada’s trade deficit with countries other than the United States narrowed from $9.2 billion in September to $7.1 billion in October.<\/p>\n","protected":false},"excerpt":{"rendered":"
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