“Canada’s merchandise trade deficit with the world narrowed from $743 million in June to $114 million in July, the smallest deficit since the most recent surplus in December 2016,” Statistics Canada announced on Wednesday.
- Total exports rose 0.8%, mainly on higher crude oil prices.
- Total imports declined 0.4%, due to fewer aircraft imports.
- In real (or volume) terms, exports were down 0.8%. Export prices rose 1.6%, and were behind the export gain in nominal terms.
- This price increase was primarily attributable to higher prices of energy products.
- Total import volumes fell 1.1% in July, and prices were up 0.7%.
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