ZCZC
BCN-07
CANADA-INDICATOR-TRADE
Canada trade deficit widens in October
OTTAWA, Dec 7, 2018 (BSS/AFP) – Canada’s trade deficit with the world widened
in October to Can$1.2 billion (US$900 million) after a sharp plunge in oil
prices, the government statistics agency said Thursday.
Statistics Canada also revised upward its September deficit to Can$891
million — more than double its original projection.
Exports fell 1.2 percent in October to Can$49.3 billion, despite a small
uptick in volumes. This was largely attributed to a 12.4 percent drop in
energy exports as oil prices plunged.
The overall export decline was moderated by a 4.4 percent increase in motor
vehicle exports.
Imports, meanwhile, fell 0.6 percent in the month to Can$50.5 billion, with
sharply lower purchases of cars, chemicals, plastics and rubber, partially
offset by higher imports of aircraft and other transportation equipment.
Canada’s trade surplus with its largest trading partner, the United States,
narrowed to Can$3.1 billion.
BSS/AFP/SR/1920 HRS