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Canadian trade deficit down to 86 million USD in July
Last Updated: 2018-09-06 16:48 | Xinhua
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Canada's merchandise trade deficit with the world reduced to 114 million Canadian dollars (about 86 million U.S. dollars) in July from 743 million Canadian dollars (563 million U.S. dollars) in June, the smallest deficit since a surplus in December 2016, according to Statistics Canada on Wednesday.

Canada's total exports rose 0.8 percent due to higher prices of energy products as crude oil exports climbed for the fifth straight month. Oil exports were helped by a 9.4 percent rise in prices.

Meanwhile, its total imports declined 0.4 percent because of declines in aircraft and other transportation equipment and parts as well as metal ores and non-metallic minerals.

Exports to the United States rose 3.3 percent in July to 38.4 billion Canadian dollars (29 billion U.S. dollars) while American imports edged down 0.1 percent to 33.1 billion Canadian dollars (25 billion U.S. dollars).

As a result, Canada's trade surplus with the United States widened to 5.3 billion Canadian dollars (4 billion U.S. dollars) in July from 4.1 billion Canadian dollars (3.1 billion U.S. dollars) in June.

It represents Canada's biggest monthly trade surplus with the United States, its largest trading partner since October 2008. Enditem

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