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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Police seek ‘high-risk sex offender’ last seen in Victoria

Scott Jones is wanted on a Canada-wide warrant for being ‘unlawfully at large’

The State of Aging: COVID-19 exposed a long-term care system already in crisis

A look at Greater Victoria’s aging population and what that will mean for the future

Oak Bay home ready to house refugees, immigrants

District leases two village homes to Victoria Immigrant and Refugee Centre Society

Central Saanich police sport personalized face masks

Masks feature the crest and individual officer pin numbers

Unofficial holidays: Here’s what people are celebrating for the week of Sept. 27 to Oct. 3

World Farm Animals Day, Drink Beer Day and Virus Appreciation Day are all coming up this week

B.C. records 98 more COVID-19 cases, most in Lower Mainland

One new senior home outbreak, Surrey Memorial outbreak over

POLL: Do you agree with the decision to call a provincial election for Oct. 24?

British Columbians will put their social distancing skills to the test when… Continue reading

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Vancouver Island Tour de Rock riders roll into Parksville Qualicum Beach

Saturday’s schedule includes Port Alberni, Ucluelet and Tofino, followed by Nanaimo on Sunday

97 distressed horses, cats and dogs seized from farm in Princeton

RCMP assisted as BC SPCA executed search warrant

$250K reward offered as investigation continues into Sea to Sky Gondola vandalism

Police also asking for specific footage of Sea to Sky highway around time of incident

Most Read