Canada Exports, Imports Plunge in July

By Paul VieiraFeaturesDow Jones Newswires

Canada's trade deficit narrowed in July from the previous month, as exports declined steeply for a second straight month and imports fell by the most in over eight years.

Canada's merchandise trade deficit in July came in at a seasonally adjusted 3.04 billion Canadian dollars ($2.46 billion), Statistics Canada said Wednesday, compared with a revised C$3.76 billion shortfall in the previous month.

Continue Reading Below

Markets were anticipating a C$3.35 billion trade shortfall in July, according to economists at Royal Bank of Canada.

Canada's monthly trade data covers the export and import of goods and doesn't include services.

In July, exports declined 4.9% to C$44.14 billion, compared with the previous month's 5% drop. On a one-year basis, exports rose 2.2%.

Imports declined 6% to C$47.18 billion, or the biggest monthly decline in imports since January 2009, when imports dropped 8.9%.

In volume, or price-adjusted terms, exports in July were down 1.1%, while imports declined 2.3%.

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

(END) Dow Jones Newswires

September 06, 2017 09:24 ET (13:24 GMT)