Shipping containers are seen at the Fairview Cove Container Terminal in in Halifax on August 25, 2017. Statistics Canada says the country’s merchandise trade deficit narrowed to $4.2 billion in January as higher oil prices helped exports rise faster than imports. The result followed a revised deficit of $4.8 billion in December compared with an initial reading of a deficit of $4.6 billion for the final month of 2018. THE CANADIAN PRESS/Andrew Vaughan

Statistics Canada reports trade deficit shrinks to $4.2B in January

Economists had expected a deficit of $3.5 billion for January

Statistics Canada says the country’s merchandise trade deficit narrowed to $4.2 billion in January as higher oil prices helped exports rise faster than imports.

The result followed a revised deficit of $4.8 billion for December compared with an initial reading of a deficit of $4.6 billion for the final month of 2018.

Economists had expected a deficit of $3.5 billion for January, according to Thomson Reuters Eikon.

Statistics Canada said total exports rose 2.9 per cent to $47.6 billion in January, the first increase since July 2018. Excluding energy products, exports rose 1.2 per cent in January.

Meanwhile, total imports rose 1.5 per cent to a record $51.8 billion in January, boosted by imports of aircraft and other transportation equipment and parts.

Imports of aircraft and other transportation equipment and parts rose 52.6 per cent to a record $2.7 billion due to higher imports of airliners from the United States.

The Canadian Press


Like us on Facebook and follow us on Twitter.

Just Posted

2019 FEDERAL ELECTION: Meet the candidates for the Courtenay-Alberni riding

In an effort to inform the Courtenay-Alberni riding constituents, we have supplied… Continue reading

Ballenas Whalers high school football squads take down Belmont

Parksville teams score back-to-back shutout wins over Bulldogs

Qualicum Beach goalie at training camp with Montreal Canadiens

LaCouvee angling for spot with AHL Laval squad

Seven buildings proposed for waterfront development in Parksville

IAG Developments hosts second public open house to gather feedback

VIDEO: Vancouver Island mayor details emergency response after fatal bus crash

Sharie Minions says she is ‘appalled’ by condition of road where bus crashed

B.C. VIEWS: Cutting wood waste produces some bleeding

Value-added industry slowly grows as big sawmills close

Fewer trees, higher costs blamed for devastating downturn in B.C. forestry

Some say the high cost of logs is the major cause of the industry’s decline in B.C.

Federal food safety watchdog says batch of baby formula recalled

The agency says it’s conducting a food safety investigation

UVic president offers condolences after two students killed in bus crash

‘We also grieve with those closest to these members of our campus community,’ Cassels says

Coming Home: B.C. fire chief and disaster dog return from hurricane-ravaged Bahamas

The pair spent roughly one week on Great Abaco Island assisting in relief efforts

Newcomer Ferland lines up with sniper Pettersson as Vancouver Canucks camp opens

Ferland provides more depth and a scoring threat up front, Pettersson says

Intelligence official charged seemed to be ‘exemplar of discretion’: UBC professor

Professor Paul Evans says he served on Cameron Ortis’s doctoral dissertation committee

B.C. police watchdog to investigate man’s head injury during RCMP arrest

Suspect fled on a bicycle and fell off when an officer attempted to stop him

Most Read