Canada Goods-Trade Deficit Widens in August to C$1.1 Billion

By Robb M. Stewart

OTTAWA--Canada's merchandise-trade deficit with the rest of the world widened sharply in August with a drop in export prices, particularly for crude oil.

The country posted a goods-trade deficit for the month of 1.1 billion Canadian dollars, the equivalent of about US$805.4 million, Statistics Canada said Wednesday. The market was expecting a C$500 million deficit, according to economists at TD Securities.

The trade balance for July was revised to a C$287 million deficit from an earlier estimated surplus of C$684 million.

Exports fell 1.0% to C$64.31 billion in the latest month, while imports rose 0.3% to C$65.41 billion, the data agency said.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

October 08, 2024 09:23 ET (13:23 GMT)

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