TORONTO (Reuters) – Canada posted a commerce surplus of C$684 million ($505 million) in July as imports declined quicker than exports, whereas the June stability was revised to point out a deficit somewhat than a surplus, Statistics Canada information confirmed on Wednesday.
Exports have been down by 0.4%, after rising 4.7% in June, on declines for motor automobiles and components in addition to wheat and canola. In quantity phrases, exports decreased 1.5%.
Imports fell by 1.7%, from a file C$66.1 billion in June, on decrease motor automobiles and components in addition to plane. Import volumes have been down 2%.
Analysts polled by Reuters had forecast a surplus of C$0.8 billion. June’s commerce stability was revised to point out a deficit of C$179 million from a preliminary surplus of C$638 million.
The Canadian greenback was buying and selling practically unchanged at 1.3552 per U.S. greenback, or 73.79 U.S. cents, as traders awaited a Financial institution of Canada rate of interest determination, due at 9:45 a.m. ET (1345 GMT).
($1=$1.3552 Canadian)