The gap between what Canada sells to the world and what it buys from other countries expanded to the largest point on record in July, as its trade deficit expanded to an all-time high of $2.3 billion.
Exports fell 3.4 per cent during the month, Statistics Canada reported Tuesday. That was more than the corresponding decline in imports, which were down 2.2 per cent.
Exports of energy products fell 8.5 per cent to $8.2 billion for the month, the data agency reported, while exports of automotive products dropped 5.3 per cent to $5.9 billion.
via CBC
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.