Investing.com - Canada’s trade deficit widened unexpectedly in August, official data showed on Tuesday.
In a report, Statistics Canada said that Canada’ trade deficit was CAD1.31 billion in August, widening from a deficit of CAD1.19 billion in July, whose figure was revised up from a previously reported deficit of CAD0.93 billion.
Analysts had expected Canada’s trade deficit to narrow to CAD1.0 billion in August.
Canada's merchandise exports grew 1.8% to CAD39.77 billion, while imports increased 2.1% in August to CAD41.08 billion.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD adding 0.06% to trade at 1.0318.
In a report, Statistics Canada said that Canada’ trade deficit was CAD1.31 billion in August, widening from a deficit of CAD1.19 billion in July, whose figure was revised up from a previously reported deficit of CAD0.93 billion.
Analysts had expected Canada’s trade deficit to narrow to CAD1.0 billion in August.
Canada's merchandise exports grew 1.8% to CAD39.77 billion, while imports increased 2.1% in August to CAD41.08 billion.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD adding 0.06% to trade at 1.0318.