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October 5, 2017
Canada's global trade deficit totalled $3.4 billion in August
Statistics Canada announced that the country's merchandise trade deficit with the world totalled $3.4 billion in August, widening from a $3.0 billion deficit in July.
The federal agency reports that exports were down 1.0% to $43.6 billion. Exports of consumer goods were down 3.8% to $5.7 billion and exports of basic and industrial chemical, plastic and rubber products declined 5.9% to $2.7 billion. Exports of metal ores and non-metallic minerals, down 9.7% to $1.5 billion, also contributed to the decrease.
Total imports were virtually unchanged in August at $47.0 billion. Imports of motor vehicles and parts rose 2.5% in August to $9.3 billion and imports of metal ores and non-metallic minerals rose 9.9% to $1.2 billion. Imports of consumer goods fell 1.8% to $10.1 billion. Imports of aircraft and other transportation equipment and parts fell 10.2%.
On a per country basis, exports to the United States were down 1.8% to $32.6 billion in August while imports rose 0.9% to $30.3 billion. As a result, Canada's trade surplus with the United States narrowed from $3.2 billion in July to $2.3 billion in August.
Exports to countries other than the United States rose 1.5% to $11.0 billion, as increased exports to the United Kingdom (unwrought gold) and Japan (coal and canola) were partially offset by lower exports to China (canola) and India (uranium). Imports from countries other than the United States decreased 1.6% to $16.7 billion in August. Lower imports from China (cellphones), Saudi Arabia (crude oil) and Norway (ships) were partially offset by higher imports from Mexico (motor vehicles and parts). Consequently, Canada's trade deficit with countries other than the United States narrowed from $6.2 billion in July to $5.7 billion in August.
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