Statistics Canada reports $1.1B trade surplus for July
Imports rose 1.2% to $50.9 billion with gains in six of 11 sectors.
OTTAWA — Statistics Canada says the country posted a merchandise trade deficit of $1.1 billion in July compared with a revised deficit of $55 million June.
Economists had expected a deficit of $400 million, according to financial markets data firm Refinitiv.
The result for June was updated from what was originally reported as a $136-million surplus.
Statistics Canada says imports rose 1.2% to $50.9 billion in July, with gains in six of 11 sectors.
Imports of consumer goods were up 2.4%, while aircraft and other transportation equipment and parts rose 10.2%.
Total exports fell 0.9% to $49.8 billion in July as energy product exports fell 6.7% in July due to a 7.7% drop in crude oil exports.