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Canada Plunges to Unexpected Trade Deficit

Posted October 06, 2014

Under Economic Issues, International Trade Issues

(David Parkinson – Globe & Mail)

Canada posted an unexpected trade deficit of $610-million in August, snapping a string of recent strong trade numbers, as imports surged while exports took a breather.

Statistics Canada reported that imports jumped 3.9 per cent from July, to a record $44.8-billion, led by mining and energy products. Exports dipped 2.5 per cent, retreating from July’s record high, in a broadly based pullback led by the auto and energy sectors. Nine of 11 export sectors showed declines. Read more here.

Related:
Canadian Dollar Falls to Six-Month Low on Trade Deficit (Bloomberg)
Strong U.S. Jobs Report Leads to Weaker Canadian Dollar (Bellingham Herald)