Canada's merchandise trade deficit decreased to $924 million in October as exports increased for the first time since June. Exports rose 1.1 per cent, while imports were up 0.5 per cent. The rise in exports was largely driven by metal and non-metallic mineral products, including unwrought precious metals.
OTTAWA — Statistics Canada says the country's merchandise trade deficit narrowed to $924 million in October as exports rose for the first time since June. The agency says the result compared with a deficit of $1.3 billion in September. Exports rose 1.1 per cent in October to $64.2 billion after three consecutive monthly declines. The increase came as exports of metal and non-metallic mineral products rose 10.6 per cent, boosted by a 20.
9 per cent gain in exports of unwrought gold, silver, and platinum group metals, and their alloys. Imports were up 0.5 per cent at $65.1 billion, though Statistics Canada said it added estimated values to most product categories because of delays in receiving the October data. Statistics Canada's main source of data for import statistics is undergoing a major change as a result of a shift to a digital platform for paying duties. It said issues related to the switch are temporarily impacting the completeness and quality of the trade statistics
MERCHANDISE TRADE EXPORTS IMPORTS STATISTICS CANADA CANADA ECONOMY
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