Canada's merchandise trade deficit ballooned to a record $4.1 billion in September, thanks to one large shipment of equipment destined for an oil field off the coast of Newfoundland. "Excluding this transaction, nominal exports would have declined by 1.6%, resulting in Canada's trade deficit with the world narrowing to $1.2 billion." As it stands, Canada's overall trade deficit in August was $2 billion. Imports from the United States, Canada's top trading partner, fell by 1.1 per cent to $29.7 billion, while exports were down 0.6 per cent to $32.4 billion in September. That meant Canada's trade surplus with the United States widened from $2.6 billion in August to $2.7 billion in September.

Source: CBC News November 04, 2016 15:54 UTC