Exports Gain for 3rd Month as Canada’s Trade Deficit Narrows
- Shipments of non-energy goods are little changed in August
- Trade surplus with U.S. narrows as exports fall 1.6%
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Canadian exports rose for a third month in August and the country posted a smaller-than-expected trade deficit, adding to signs of a modest rebound in the sector.
Energy sales led exports 0.6 percent higher from a month earlier to C$1.94 billion ($1.47 billion), Statistics Canada reported Wednesday, and shipments abroad are up 5.3 percent since touching a two-year low in May. Falling exports to the U.S. amid a sharp decline in the value of automobile sales to that country tempered the August result.