September 10, 2009

Canadian imports, exports rise in July

Canadian imports rose 8.3 percent to $31.7 billion in July while exports grew 3.3 percent to $30.3 billion, Statistics Canada reported Thursday.

That led to a monthly $1.4 billion trade deficit, up from $37 million in June, the agency said.

The gain in imports halted four consecutive months of decline and was the result of an 8.7 percent rise in volumes as prices edged down 0.4 percent, the report said. The second consecutive monthly advance in exports was attributable to a 5.9 percent increase in volumes, as prices declined 2.4 percent.

For imports, the main sources of growth were in the machinery and equipment, automotive products and energy products, StatsCan said.

Similarly for exports, machinery and equipment and automotive products led the gainers.