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Fri Mar 19 14:36:29 2010 [Write for us] | [Login/Register]
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Canadian trade deficit contracts

Ottawa -- Canada's international trade deficit shrank in September based on a 3.5 percent increase in exports, Statistics Canada reported from Ottawa Friday.

The agency said although there was little change in imports, the export increase narrowed the trade deficit to $927 million from $2 billion in August.

"Exports rose by $1 billion to $30.3 billion in September, as volumes increased 4.5 percent," StatsCan said. "Imports edged down 0.1 percent to $31.2 billion, as volumes fell 0.8 percent."

Exports to the United States increased 0.5 percent while imports grew 1.7 percent. Exports to other countries, particularly to European Union members, rose 12.4 percent.

The increase in exports led by automotive products, which were up overall by 15.8 percent to $4.2 billion in September. Within the sector, passenger car exports were up 18.4 percent as new models were introduced, and some manufacturers resumed production after summer shutdowns, the report said.

Copyright 2009 by United Press International.

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