October trade deficit falls to $1.1B, smallest since January

Import volumes fall 6.2%, prices edge down 0.1%.

OTTAWA — Statistics Canada says the country’s trade deficit narrowed to $1.1 billion in October, the smallest shortfall since January, after hitting a record high of $4.4 billion the previous month.

Imports fell 6.3% to $44.7 billion in October after hitting a record high in September due to the import of a component for the Hebron offshore oil project.

Import volumes fell 6.2% and prices edged down 0.1%.

Exports increased 0.5% to $43.6 billion as prices rose by 1.2% and volumes declined 0.7%.

Statistics Canada says higher exports of energy products and motor vehicles and parts were partially offset by lower exports of consumer goods and aircraft and other transportation equipment and parts.

News from © Canadian Press Enterprises Inc. 2016

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