Economics

Canada’s trade deficit widens

Canada’s trade deficit stays elevated on import rebound

CANADA’S TRADE GAP changed little in September, remaining at elevated levels as imports have rebounded more quickly than exports since the onset of the pandemic.

 

Statistics Canada reported Wednesday that the deficit was $3.25 billion, from a revised $3.21 billion in August. Economists had forecast a deficit of $2.35 billion.

 

Both exports and imports rose 1.5 per cent in September, but since the pandemic started, Canada has brought in more goods and services than it has shipped out.

Story Continues Below

Imports are at 98 per cent of pre-pandemic levels, versus 94 per cent for exports. Machinery and equipment imports rose 6.7 per cent in September.

 

Combined, exports and imports have increased 37 per cent since falling to a decade-low in April, leaving them at 96 per cent of pre-pandemic levels.

 

The gain in exports was led by forestry products, up 10 per cent in September and 16 per cent from February, the agency said. Aircraft exports climbed 13 per cent in the month.

Recent Posts

London Inc. Weekly

London Inc. Weekly: A summary of regional business news from the past week

4 days ago

Dispatch

Dispatch: A summary of recent business appointments and announcements, plus upcoming events for the week ahead

4 days ago

Price check

Price check: A sampling of high- and low-priced real estate listings around town this week

6 days ago

Commercial Activity: June 25, 2025

A summary of recent commercial real estate activity in London

6 days ago

Home of the Week: 763 Clearview Crescent

763 Clearview Crescent: $2,690,000 for an architectural landmark overlooking the Thames River

6 days ago

Into the depths of Canada with Mitsubishi

Into the depths of Canada isn’t just a story about a road trip or a dive. It’s about going beyond…

1 week ago