OTTAWA — Canada trade was up in July as both exports and imports grew, but the country registered a trade deficit of 1.4 billion Canadian dollars (1.3 billion US), Statistics Canada said Thursday.
"Merchandise imports and exports both increased in July as a result of broad-based growth in volumes," the government agency said.
Imports were up 8.3 percent to 31.7 billion dollars (29.2 billion US), ending four consecutive months of decline. Gains were mostly due to higher imports of machinery and automotive products, as well as energy products.
Exports, meanwhile, grew 3.3 percent to 30.3 billion dollars (27.9 billion US), for a second month. Machinery and automotive products were the main sources of growth. However, declines in energy exports tempered the gain.
Canada's trade surplus with its largest trading partner the United States shrank to 1.9 billion dollars (1.8 billion US) in July from 3.2 billion dollars in June, as the growth in imports outpaced the increase in exports.
Imports from the United States rose 9.9 percent, mainly due to higher imports of organic chemicals and aircraft. Exports were up 2.5 percent, mostly due to increases in exports of aircraft.
Copyright © 2009 AFP. All rights reserved.Source
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