Canada’s trade surplus with US narrows more than expected

Canada’s trade surplus with the US narrowed more than expected in August as imports of goods from the US were higher than exports, data from Statistics Canada showed Tuesday.

The country’s trade surplus narrowed to C$943 million ($695 million) from a revised C$1.143 billion a month earlier. The reading was still the biggest surplus this year and the 29th consecutive month of surpluses.

The country’s export sales climbed 1.4% in October to C$71.5 billion while imports were up 1.6% to C$77.6 billion. The trade surplus with the US was C$1.5 billion, down from C$1.8 billion.

Exports of energy products climbed 5.5% to C$10.2 billion while the volume of exports rose 1.2% from a year earlier.

Capital goods exports rose 2.2% to C$12.9 billion on stronger demand for machinery and equipment.

Shipments of motor vehicles and parts climbed 1.3% to C$12.8 billion.

Imports of energy products rose 5.5% to C$7.3 billion. The volume of imports increased 2.1% but was down 1.3% from a year earlier.

Petroleum and coal product imports were up 14.3% due to higher prices.

Here are some key numbers that Canadian Statistics Canada is reporting for October:

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