Investing.com - Canada’s trade deficit narrowed unexpectedly in January, as exports rose 2.1% and imports increased 1.9%, official data showed on Thursday.
In a report, Statistics Canada said that Canada’ trade deficit narrowed to CAD0.2 billion in January from a deficit of CAD0.3 billion in December. Analysts had expected Canada’s trade deficit to widen to CAD1 billion.
Exports rose to CAD39.1 billion, as prices increased 1.3% and volumes were up 0.9%, while imports increased to CAD39.3 billion, almost entirely the result of higher volumes.
Following the release of the data, the Canadian dollar was higher against its U.S. counterpart, with USD/CAD shedding 0.15% to trade at 1.0304.
In a report, Statistics Canada said that Canada’ trade deficit narrowed to CAD0.2 billion in January from a deficit of CAD0.3 billion in December. Analysts had expected Canada’s trade deficit to widen to CAD1 billion.
Exports rose to CAD39.1 billion, as prices increased 1.3% and volumes were up 0.9%, while imports increased to CAD39.3 billion, almost entirely the result of higher volumes.
Following the release of the data, the Canadian dollar was higher against its U.S. counterpart, with USD/CAD shedding 0.15% to trade at 1.0304.