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World Print edition: 2019-11-06

Canada trade pulled back in September

Published Updated

Canadians traded less with the world in September while its trade deficit narrowed to Can$978 million (US$744 million), the government statistical agency said Tuesday.

The figure was down from a Can$1.2 billion shortfall (revised upward) in the previous month, and wider than economists expected.

The declines in trade were fairly broad-based.

Total imports fell 1.7 percent to Can$50.8 billion in September, but were still up for the first nine months of the year, said Statistics Canada.

Gold contributed most to the drop, with imports of gold for refining down mainly on lower shipments from Peru, Japan and Brazil.

Imports of iron and steel products were also lower. These have yet to show a "significant rebound" since the United States lifted steel and aluminum tariffs in May, the agency said.

But copper ore imports returned to levels similar to July after a sharp uptick in imports from the Philippines in August.

Copyright Agence France-Presse, 2019

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