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Statistics Canada says merchandise trade deficit edged up to $3.3B in September

Last Updated Nov 4, 2020 at 7:24 am MST

A freight train rail yard is pictured near Pitt Meadows, B.C., on November 25, 2016. Statistics Canada says the country's merchandise trade deficit shrank to $370 million in December compared with $1.2 billion in November as crude oil exports rose. Economists on average had expected a deficit of $610 million, according financial markets data firm Refinitiv. THE CANADIAN PRESS/Jonathan Hayward

OTTAWA — Statistics Canada says the country’s merchandise trade deficit grew to $3.3 billion in September as both exports and imports climbed higher, but remained below their pre-pandemic levels.

The agency says September’s result compared with a deficit of $3.2 billion in August.

Economists on average had expected a $2.6-billion deficit for September, according to financial data firm Refinitiv.

Statistics Canada says exports rose 1.5 per cent in September to $45.5 billion as exports of forestry products and building and packaging materials rose 10.4 per cent in September.

Exports of aircraft and other transportation equipment and parts rose 13.4 per cent.

Meanwhile, imports rose 1.5 per cent in September to $48.8 billion as imports of energy products rose 28.8 per cent in September due to an 87.1 per cent rise in crude oil imports.

This report by The Canadian Press was first published Nov. 4, 2020.

The Canadian Press