Trade Surplus Shrinks in September

(The Canadian Press)

Canada’s trade surplus declined to $4.5 billion in September from $5.6 billion in August, as exports declined and imports rose. Statistics Canada reports exports fell for the second straight month, dropping one per cent to $42.5 billion. The agency says blamed the movement on a drop in prices, as volumes remained flat. The retreat was led by industrial goods and materials, automotive products and energy products.

Imports increased 1.9% in September to $38 billion, the fifth rise in six months as both prices and volumes increased.

Exports to the United States fell 1.3% to $32.1 billion, while imports remained relatively unchanged at $23.7 billion.

As a result, the trade surplus with the United States contracted to $8.3 billion in September from $8.7 billion in August.

Exports to countries other than the United States remained flat at $10.4 billion, while imports from these countries collectively increased 5.5%. Consequently, Canada’s trade deficit with countries other than the United States expanded to $3.8 billion in September from $3.1 billion in August.

Exports of industrial goods and materials fell for the second straight month, decreasing 1.9% to $9.9 billion as prices declined and volumes edged up.

Summary statistics and links to the data files are on the Statistics Canada website here.