Investing.com - Canada's trade deficit narrowed unexpectedly in July, as exports rose 2.3% while imports advanced 1.7%, official data showed on Thursday.
In a report, Statistics Canada said that Canada’s trade deficit was C$590 million in July, compared to a deficit of C$810 million in June, whose figure was revised from a previously reported deficit of C$480 million.
Analysts had expected Canada to post a trade deficit of C$1.3 billion in July.
Canada's exports rose 2.3% in July and were concentrated in non-energy products. Exports excluding energy products rose 4.0%. Overall, export prices grew 1.3% while export volumes advanced 1.0%.
On the other side of the ledger, imports were up 1.7%. Import demand was widespread among commodities in July. Import prices were up 1.3% and volumes 0.5%.
USD/CAD was trading at 1.3274 from around 1.3278 ahead of the release of the data.