FILE PHOTO: Buildings are seen in the financial district in Toronto, January 28, 2013. REUTERS/Mark Blinch OTTAWA (Reuters) – Canada’s trade deficit narrowed in September to C$978 million ($745 million), compared with a revised August deficit of C$1.24 billion, as exports and imports declined, data showed on Tuesday. The August deficit had previously been reported as C$955 million, Statistics Canada said. A median forecast in a Reuters poll of market analysts had pointed to a shortfall of C$700 million for September. Canadian exports declined 1.3% in September, with seven of the 11 categories falling. Exports of metal and non-metallic mineral products posted the largest drop in September, falling 7.3%, mostly on lower gold shipments. Crude oil exports fell 2.1% because of lower volumes, after rising on higher prices in August. Meanwhile, imports were down 1.7%. Statistics Canada said imports of transportation equipment and parts sank 27.7%, largely because of slower trade from Belgium. Imports of metal and non-metallic minerals were also down, slumping 20.5% on the month because of lower shipments of gold and copper ores. Last week, Canada’s central bank – which has sat on the sidelines since October 2018 – warned the Canadian economy was not immune to… Read full this story
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