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Canada’s trade deficit shrinks in October

Cargo containers are stacked up at the Port of Vancouver in Vancouver in this file photo.


Statistics Canada says the country's merchandise trade deficit shrank to $169-million in October, a big improvement over the September figure when the deficit was $1-billion.

Exports rose 1 per cent to $38.1-billion with farm, fishing and intermediate food products leading the gains.

Declines in exports were led by metal ores and non-metallic minerals.

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Meanwhile, Statistics Canada say imports fell 1.2 per cent to $38.3-billion and were down 5.7 per cent from the record high reach in June.

Imports from the United States rose 1.6 per cent to $24.6-billion and exports edged down 0.2 per cent to $27.4-billion, cutting the trade surplus with the United States to $2.8-billion from $3.2-billion in September.

Imports from countries other than the United States fell 5.8 per cent to $13.7-billion and exports rose 4.2 per cent to $10.7-billion, reducing the trade deficit with those countries to $2.9-billion from $4.2-billion in September.

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