Canada Trade Deficit Unchanged; Exports and Imports Both Drop
(David Ljunggren – Reuters)
Canada’s trade deficit remained at $3.18 billion in September as imports and exports dropped for the fourth consecutive month, according to Statistics Canada data released on Friday.
Analysts in a Reuters poll had forecast a shortfall of $3.00 billion. Since Statscan started compiling trade data in 1946, exports and imports never both declined for four months in a row.
Exports fell by 0.3 per cent to $43.56 billion. Shipments of motor vehicles and parts shrank by 10.6 per cent due to work stoppages and the introduction of changes to certain models destined for the U.S. market. Click here to read more.
U.S. Trade Deficit Widens Despite Rising Exports
The U.S. trade deficit widened slightly more than expected in September as rising exports of goods and services were offset by a jump in imports.
The Commerce Department said on Friday the trade gap increased 1.7 percent to $43.5 billion. August’s trade deficit was revised up to $42.8 billion from the previously reported $42.4 billion.
Economists polled by Reuters had forecast the trade shortfall rising to $43.2 billion in September. When adjusted for inflation, the trade deficit was little changed at $62.2 billion. Click here to read more.