Investing.com - Canada's trade deficit narrowed more than expected in September, as exports rose 0.7% while imports declined 1.3%, official data showed on Wednesday.
In a report, Statistics Canada said that Canada’s trade deficit was C$1.73 billion in September, compared to a deficit of C$2.66 billion in August, whose figure was revised from a previously reported deficit of C$2.53 billion.
Analysts had expected Canada to post a trade deficit of C$1.9 billion in September.
Total exports increased 0.7% to $44.5 billion in September. Higher exports of consumer goods, energy products, and metal and non-metallic mineral products were moderated by lower exports of motor vehicles and parts.
On the other side of the ledger, total imports declined 1.3% to $46.2 billion in September. The main contributor to the decrease in imports was metal and non-metallic mineral products.
USD/CAD was trading at 1.3075 from around 1.3081 ahead of the release of the data.