Statistics Canada says trade deficit narrows to $1.5 billion in October

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Statistics Canada says the country’s merchandise trade deficit narrowed to $1.5 billion in October as exports improved and imports took a step back.

The agency says the shortfall was less than half the $3.4-billion deficit in September.

Economists had expected a deficit of $2.7 billion, according to Thomson Reuters.

Exports increased 2.7% to $44.5 billion in October, following four consecutive monthly declines, as gains were made in nine of 11 sectors.

Prices were up 1.5% and volumes increased 1.2%.

Meanwhile, imports fell 1.6% to $45.9 billion in October, mainly due to a drop in motor vehicles and parts. Import volumes fell 3.9% while prices rose 2.4%.

Transcontinental Media G.P.