The gap between what Canada sells to the rest of the world and what it buys shrank to a gap of about $3 billion in July, as imports fell by more than exports did.
Statistics Canada reported Wednesday that fell 6 per cent and exports decreased 4.9 per cent, “both due mainly to the effect of widespread price decreases.”
Canada imported $47.2 billion worth of goods and services in June, the first decline since last year.
Exports, meanwhile, fell to $44.1 billion, leaving a trade deficit of just over $3 billion. Click here to read more.