Canada's merchandise exports increased 1.8% while imports grew 0.2% between August and September, narrowing Canada's trade deficit with the world, Statistics Canada announced November 14.
The country's trade deficit fell from $1.1 billion in August to $435 million in September – a decrease of $665 million.
Exports grew to $40.6 billion, driven in large part by a 4.6% jump in energy products exports to $10.2 billion – the highest level since September 2008. This sector's growth was driven by sales of natural gas, refined petroleum energy products, crude oil and crude bitumen.
Aircraft and other transportation equipment and parts exports increased 17.4% to $1.6 billion based on higher volumes. Exports of farm, fishing and intermediate food products grew 3.5% to $2.1 billion.
Imports grew to $41.1 billion, driven by a 7.3% increase in energy products to $3.9 billion and a 2.2% gain in consumer goods to $8.4 billion. These were partially offset by a drop of 7.1% in industrial chemical, plastic and rubber products.
Exports to the United States grew 1.0% to $30.5 billion – driven mainly by exports of aircraft – while imports from the U.S. increased 0.9% to $26.2 billion, slightly increasing Canada's trade deficit with the U.S.
