Statistics Canada says the country’s merchandise trade deficit narrowed to $4.9 billion in July as exports rose and imports fell.
The agency says the result compared with a revised deficit of $6.0 billion in June.
The result for July came as exports rose 0.9 percent to $61.9 billion with exports of energy products up 4.2 percent boosted by a 2.3 percent increase in crude oil exports.
Exports of motor vehicles and parts increased 6.6 percent in July as Statistics Canada says seasonal stoppages at the auto assembly plants were less severe this year because of the production slowdown caused by, among other things, U.S. tariffs.
Total imports fell 0.7 percent to $66.8 billion in July as imports of industrial machinery, equipment and parts dropped following the one-time import of a module for an oil project off the coast of Newfoundland in June….