US EditionCanada's August trade deficit widens more than forecast as exports drop
Canada's trade deficit widened to $6.3 billion in August as exports fell 3.0% in key sectors while imports rose 0.9%, driven by metal products and unwrought gold.
- Statistics Canada reported a $6.3 billion merchandise trade deficit in August, a deterioration from July's $3.8 billion, reflecting ongoing trade challenges.
- In August, total exports fell 3.0 per cent to $60.6 billion, driven by a 7.6 per cent drop in metal and non-metallic mineral products, while total imports rose 0.9 per cent to $66.9 billion, boosted by metal and large unwrought gold shipments.
- Imports from the U.S. fell 1.4 per cent in August, trimming the trade surplus with the United States to $6.43 billion while the deficit with countries other than the United States hit a record $12.8 billion.
- Experts warn that tariffs and political pressure may influence Canada's trade negotiations, with analysts noting the impact of U.S. sectoral tariffs on supply chains and future deals.
- Lower exports of crude oil and nuclear fuel contributed most to the monthly decrease, while exports of industrial machinery, equipment and parts dropped 9.5 per cent in August.
19 Articles
19 Articles
Canada’s Trade Deficit Reaches $6.32B in August as Exports Decline: StatCan
Canada’s merchandise trade deficit grew to $6.32 billion in August from $3.8 billion in July as exports fell faster than the increase in imports, new data from Statistics Canada says. International exports declined by 3 percent in August, representing the first drop since April, with exports to the United States and other major trading partners decreasing in August, StatCan said in an Oct. 7 release. Metal and non-metallic mineral product export…
Canada's August trade deficit widens more than forecast as exports drop
Canada's merchandise trade deficit widened in August to C$6.32 billion ($4.53 billion) as exports fell faster in both value and volume than the rise in imports on a monthly basis, official government statistics showed on Tuesday.
Canada's trade deficit increased in August due to changes in gold shipments and the impact of U.S. tariffs on exports to the country, according to Statistics Canada.
Canada's merchandise trade deficit widened in August, with exports falling faster than imports rose
Canada's merchandise trade deficit widened in August to $6.32 billion as exports fell faster in both value and volume than the rise in imports on a monthly basis, official government statistics showed on Tuesday.
Winnipeg Free Press
Statistics Canada says merchandise trade deficit $6.3 billion in August
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