Canada trade surplus drops in August to lowest 2022 level / Photo: JUSTIN SULLIVAN - GETTY IMAGES NORTH AMERICA/AFP/File
-
Physicians Urge Arizona to Ban Medical Gag Clauses and Enable Private Lawsuits
-
China Extends Tariff Suspension on US Imports to Stabilize Trade Ties
-
New Campaign Highlights Knowledge Gaps on Carbon Monoxide Safety Among Americans
-
JR East Launches 'teppay' to Integrate Suica Balance with Mobile Payments
-
GoodData.AI Launches the Agentic Serving Plane, a New Category of Enterprise Data Infrastructure for AI Agents
-
Securitas Healthcare Introduces a New Era of RTLS Built for the Future of Healthcare Operations
-
US Government Questions Effectiveness of Waymo’s School Bus Software Fix
-
First-time boat buyers advised to assess full ownership costs
-
Panthers expected to begin 2027 NRL season away from new stadium
-
Planning and preparation can reduce stress of interstate relocation
-
Sweet As app launches restaurant discovery platform
-
Two more arrested in Carrie Mullane suspected murder investigation
-
MLA seeks inquiry into reported sectarian gestures on Ormeau Road
-
Mayo school appeals for information after convent and chapel vandalism
-
Louise O’Reilly attacks Simon Harris over unemployment remarks
-
GLP-1 Users Show Higher Rates of Nail Detachment in New Studies
-
Virginia overwhelms Arkansas 91-72 behind balanced scoring
-
Canadian soldier Aidan Goulding remembered at Vancouver funeral
-
Second major storm brings destructive winds and outages to British Columbia
-
Tayyab Arif hits 57 on Pakistan Test debut against Sri Lanka
-
Godzilla Minus Zero leads North American box office with $31.6m
-
Robert Trujillo discusses literacy and social justice children’s books
Canada trade surplus drops in August to lowest 2022 level
Canada's trade surplus fell in August to Can$1.5 billion (US$1.1 billion) -- its lowest level so far this year -- as both exports and imports slumped, the government statistical agency said Wednesday.
The surplus narrowed from a revised Can$2.4 billion in July (previously Can$4 billion) and was "slimmer-than-expected," according to CIBC analyst Andrew Grantham.
Exports decreased 2.9 percent to Can$65.4 billion, led by lower exports of energy products, while imports fell 1.7 percent to Can$63.9 billion, mainly on lower imports of motor vehicles and parts, said Statistics Canada.
Energy exports accounted for more than 28 percent of total exports in August. The drop in this segment was led by crude oil.
Wheat exports also fell, but production was forecast to bounce back in 2022/2023 after a poor harvest this year.
Canola exports were also down, as were shipments of gold bars to the United States following peak exports in May and June.
Imports of passenger cars and light trucks as well as parts, meanwhile, continued to be affected by supply chain woes.
Also down were imports of basic and industrial chemical, plastic and rubber product, metal and non-metallic mineral product, electronic and electrical equipment and parts, and energy products.
Those were partially offset by higher imports of industrial machinery linked to a new liquefied natural gas terminal currently being built in British Columbia.
Trade with the United States declined, but Canada still managed to maintain a surplus with its largest trading partner, while a deficit with all other countries widened for the first time in four months.
M.Carneiro--PC
