Canada's Trade Deficit Widens in July


Canada's merchandise exports fell 3.4% and imports decreased 2.2% in July. As a result, Canada's trade deficit with the world expanded from $1.9 billion in June to $2.3 billion in July.

Exports fell to $37.7 billion as volumes decreased 2.0%. Energy products were the main contributor to the fall in exports.

Imports decreased to $40.1 billion, mainly as a result of lower imports of energy products as well as machinery and equipment. Both volumes (-1.2%) and prices (-1.0%) declined.

Exports to the United States fell 5.0% to $27.4 billion in July, while imports declined 2.1% to $25.3 billion. Consequently, Canada's trade surplus with the United States decreased from $3.0 billion in June to $2.1 billion in July, the smallest trade surplus since October 2010.

Imports from countries other than the United States decreased 2.4% to $14.7 billion while exports rose 1.2% to $10.3 billion. As a result, Canada's trade deficit with countries other than the United States narrowed from $4.9 billion in June to $4.4 billion in July.


TradingEconomics.com, Statistics Canada
9/11/2012 1:36:32 PM