Canada Trade Deficit Narrows in October to C$1.47 Billion

By Paul Vieira Features Dow Jones Newswires

Canada's trade deficit with the rest of the world shrunk significantly in October, as exports rebounded after four straight months of declines. Meanwhile, imports fell to their lowest level in nearly a year.

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Canada's merchandise trade deficit in October narrowed from the previous month to a seasonally adjusted 1.47 billion Canadian dollars ($1.16 billion), Statistics Canada said Tuesday. The previous month's trade deficit was revised to C$3.36 billion from the earlier estimate of C$3.18 billion. Market expectations were for a trade deficit of C$2.70 billion, according to economists at Royal Bank of Canada.

Exports climbed 2.7% in October to C$44.46 billion on broad-based gains, whereas imports fell 1.6% mostly due to weaker demand for passenger cars and light trucks. In volume, or price-adjusted, terms, exports rose 1.2% while imports decreased 3.9%, or the sharpest decline in a year.

Write to Paul Vieira at paul.vieira@wsj.com

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(END) Dow Jones Newswires

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December 05, 2017 08:45 ET (13:45 GMT)