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

Okanagan Symphony maestro joins KSS Music Showcase

OSO music direcor Rosemary Thomsom will MC the upcoming display of Okanagan music talent

Inaugural Barrels & Berms SBX World Cup continues at Big White

The snowboard cross event brings in Canadian and national stars

Rockets get healthy, snap streak with 3-2 win over T-Birds

Kelowna looks for more wins Saturday with the first of back-to-back games with Giants

Language course helps to revitalize Okanagan First Nation language

“Learning a Language: nsyilxcən for Everyone” course kicks off in Kelowna on Feb. 4

Peachland looks to hire climate action coordinator

Coordinator would help city reach its carbon reduction goals

‘Presumptive case’ of coronavirus in Canada confirmed by Ontario doctors

Man in his 50s felt ill on his return to Canada from Wuhan, China

Help sought in developing family practices in South Okanagan and Similkameen

An estimated 15,000 people in region do not have a family doctor

People knowingly take fentanyl so make policy changes to reduce harm: B.C. study

Dr. Jane Buxton, an epidemiologist at the centre, says drug users need more resources,

‘My heart is going to bleed’: Bodies brought back to Canada following Iran plane crash

Remains of Sahar Haghjoo, 37, and her eight-year-old daughter, Elsa Jadidi, were identified last weekend

UBC grad and sister killed in Iran plane crash had bright futures ahead, close friend says

Asadi-Lari siblings Mohammad Hussein and Zeynab were two of 57 Canadians aboard downed Flight PS752

Animal lovers cautioned against feeding urban deer – even if they beg at the window

Even if the deer press their little faces against your kitchen window… Continue reading

Highway 1 closed near Golden for high avalanche danger

DriveBC does not give an estimation for reopening

Second earthquake in two days strikes near Agassiz

A 2.6-magnitude recorded Saturday morning

Most Read