According to Statistics Canada, in October, Canada's merchandise imports fell 2.8 percent, while exports edged up 0.1 percent. As a result, Canada's merchandise trade surplus with the world widened from $1.1 billion in September to $3.0 billion in October.
Total imports fell 2.8 percent in October, with decreases in 8 of the 11 product sections. In real (or volume) terms, imports were down 3.2 percent.
Total exports (+0.1 percent) edged up in October, registering a fourth consecutive monthly increase. The increase came despite declines in 6 of the 11 product sections. Excluding energy products, exports rose 0.5 percent. In real (or volume) terms, total exports edged down 0.1 percent.
Exports to countries other than the United States rose 3.9 percent in October, driven by exports to Saudi Arabia (other transportation equipment), the Netherlands (iron ore), Switzerland (unwrought gold) and Italy (aircraft). Imports from countries other than the United States declined 0.9 percent. Imports from Japan (various products), China (various products) and Mexico (passenger cars) saw the largest declines. Canada's trade deficit with countries other than the United States narrowed from $9.9 billion in September to $9.1 billion in October.
Following three consecutive monthly increases, exports to the United States were down 1.0 percent in October. Imports from the United States also fell, declining 3.9 percent. As a result, Canada's trade surplus with the United States widened for a fourth consecutive month, going from $11.0 billion in September to $12.1 billion in October.