Canadian exports fell in September for a fourth straight month and the country's trade deficit with the rest of the world remained largely unchanged from the previous month, marking the worst spell in Canadian trade since the oil-price swoon from three years ago.
Canada's merchandise trade deficit in September stood at a seasonally adjusted 3.18 billion Canadian dollars (US$2.48 billion), Statistics Canada said Friday. The previous month's trade deficit was revised to C$3.18 billion from the earlier estimate of C$3.41 billion. Market expectations were for a trade deficit of C$3 billion, according to economists at Royal Bank of Canada.
Exports fell 0.3% to C$43.56 billion, while imports also declined 0.3% to C$46.74 billion. The September decline in exports marks a fourth-straight month of decreases. The last time exports were on that big a losing streak was in 2014, amid a downturn in commodity prices.
On a volume, or price-adjusted, basis, exports actually rose in September, 0.3%. So did imports, up 1.3%.
Canada's monthly trade data covers the export and import of goods, and doesn't include services.
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(END) Dow Jones Newswires
November 03, 2017 08:45 ET (12:45 GMT)