(Adds details or release, background)
OTTAWA, Dec 4 (Reuters) - Canada's trade deficit
unexpectedly jumped to C$2.76 billion ($2.08 billion) in October
as exports to the crucial U.S. market dropped by the most in
almost two-and-a-half years, Statistics Canada data showed on
Friday.
October marked the 14th consecutive monthly trade deficit,
reflecting Canadian exporters' continuing struggles amid a sharp
fall in oil prices. Analysts polled by Reuters had forecast a
shortfall of C$1.70 billion.
Overall exports dropped by 1.8 percent to C$42.98 billion as
volumes fell by 1.5 percent and prices slipped by 0.4 percent.
Statscan reported declines in 10 of the 11 main sections, with
farm, fishing and intermediate food products posting a 7.3
percent decline as canola exports slumped by 33.6 percent.
Imports fell by 0.8 percent, pulled down by a 3.3 percent
drop in consumer goods. Overall import volumes slipped by 0.2
percent while prices declined by 0.6 percent.
Exports to the United States, which accounted for 74.9
percent of Canada's global total in October, fell by 2.8
percent, the biggest month-on-month fall since the 3.4 percent
slump recorded in May 2013. Imports shrank by 0.3 percent.
As a result, Canada's trade surplus with the United States
dropped to C$1.58 billion from C$2.41 billion in September. This
was the smallest surplus since the C$1.57 billion recorded in
September 2010.
($1=$1.33 Canadian)
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Graphic - Canada economic dashboard:
http://graphics.thomsonreuters.com/15/sc-canada/index.html
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