Lower Oil Exports Drag Canada to Sixth Monthly Trade Deficit
Freight trains and oil tankers sit in a rail yard in this aerial photograph taken above Toronto.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Canada recorded a C$1.1 billion ($806 million) goods trade deficit in August as crude oil exports fell, driven mainly by lower prices for the commodity that is central to the country’s economy.
The median expectation in a Bloomberg survey was for a deficit of C$500 million. Statistics Canada also revised July’s trade balance down from a surplus to a deficit of C$290 million.