Statistics Canada says the country’s merchandise trade deficit narrowed to $978 million in September compared with a revised deficit of $1.2 billion in August.<\/p>\n
Economists on average had expected a deficit of $700 million, according to financial markets data firm Refinitiv.<\/p>\n The deficit came as total imports fell 1.7 per cent to $50.8 billion in September.<\/p>\n Imports of metal and non-metallic mineral products fell 9.2 per cent in September due to a drop in gold imports.<\/p>\n Meanwhile, total exports fell 1.3 per cent to $49.8 billion.<\/p>\n Exports of metal and non-metallic mineral products fell 7.3 per cent, while exports of energy products dropped 2.6 per cent due to lower crude oil exports.<\/p>\n The U.S. trade deficit fell 4.7 per cent\u00a0to $52.5 billion US in September as the country recorded its first petroleum surplus, but overall imports and exports otherwise fell under the weight of rising global tariffs and a slowing world economy.<\/p>\n Economists polled by Reuters had forecast the trade gap would fall slightly to $52.5 billion in September.<\/p>\n The United States imported fewer cars but sold fewer overseas in September. It also imported fewer cellphones, toys and games, but sold less food, feed and beverages abroad.<\/p>\n The goods trade gap with China narrowed by $100 million to $31.6 billion, with exports to the country falling $800 million in September and imports from China falling $1.0 billion.<\/p>\n The United States and China have been embroiled in a 16-month trade war, but the two parties have edged towards an initial agreement.<\/p>\n CBC<\/p>\nTrade deficit down in U.S. as well<\/h2>\n