BUSINESS

Canada Swings To $610-Million Trade Deficit, From $2.2-Billion Surplus

10/03/2014 08:41 EDT | Updated 12/03/2014 05:59 EST
CP
OTTAWA - Statistics Canada says the country's merchandise trade balance with the world went from a surplus of $2.2 billion in July to a deficit of $610 million in August.

The federal agency says Canada's merchandise imports rose 3.9 per cent in August while exports fell 2.5 per cent.

It says imports — led by metal and non-metallic mineral products as well as energy products — hit a record high $44.8 billion.

Exports, however, fell by $44.2 billion after nine of 11 sections declined.

Imports from the United States rose 1.4 per cent to $29.7 billion, while exports fell 2.5 per cent to $33.3 billion, shrinking the trade surplus with that country to $3.5 billion in August from $4.8 billion in July.

Exports to other countries fell 2.5 per cent to $10.9 billion and imports rose 9.3 per cent to $15.1 billion, widening that trade deficit to $4.1 billion in August from $2.6 billion in July

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