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

QUIZ: How much do you know about British Columbia?

On this B.C. Day long weekend, put your knowledge of our province to the test

“How many more years is this going to continue?”: Kitimat resident wants better District response to front yard sinkholes

The sinkholes are caused by an aging storm sewer, which the District says they are working to fix.

In Our Valley: Louise Barbetti

Louise Barbetti has spent her life dedicated to the welfare of the Haisla students and community.

Rio Tinto Kemano T2 project restart plans in the works after temporary COVID-19 shutdown

The project excavation work has been shut down since late March for COVID-19 safety.

REVIEW: Catchpole’s writing style makes engineering more understandable for non-engineers

“A Story of the Engineering of the Kemano-Kitimat Transmission Line” is a fun and intelligent read.

VIDEO: Otter pups learn to swim at B.C. wildlife rescue facility

Watch Critter Care’s Nathan Wagstaffe help seven young otters go for their first dip

Alleged impaired driver sparks small wildfire near Lytton after crash: B.C. RCMP

Good Samaritans prevented the blaze from getting out of control

Travel restrictions inspiring co-operation in border communities

Small border towns are asking for exemption to travel ban

B.C. First Nation adopts ‘digital twinning’ software to better manage territory

Software allows users to visualize what a mountain might look like if the trees on its slopes were logged

All inquiry recommendations implemented after fatal Port Hardy RCMP shooting: Ministry

The Independent Investigations Office of B.C. cleared the RCMP officers involved of wrongdoing

Leave your deets when dining: Restaurants taking personal info to trace COVID-19

Health officials say indoor dining presents a higher risk

Raptors kneel for both American and Canadian anthems ahead of tipoff

Majority of players have substituted their names on the backs of their jerseys with racial and social justice messages

Wild’s Mathew Dumba makes anti-racism speech, kneels ahead of Blackhawks vs. Oilers

Matt Dumba, 26, took to center ice to speak on behalf of fellow members of the Hockey Diversity Alliance

Most Read