Canada imported $47.2 billion worth of goods and services in June, the first decline since last year. Exports, meanwhile, fell to $44.1 billion, leaving a trade deficit of just over $3 billion. Canada's trade deficit with the U.S. widened from $1.8 billion in June to $2.9 billion in July. With the rest of the world, however, Canada posted a large trade surplus, expanding from $5.6 billion in June to $5.9 billion in July. While encouraged by the smaller deficit, BMO economist Benjamin Reitzes called it "still-sizeable" but suggested that a rebounding oil price could make it shrink even more soon.

Source: CBC News September 06, 2017 12:48 UTC