OTTAWA — Statistics Canada says the country posted a merchandise trade deficit of $987 million in July as imports fell on lower shipments of gold and the B.C. port strike.
The agency says the result compared with a revised deficit of $4.9 billion in June.
Total imports fell 5.4 per cent in July as imports of metal and non-metallic mineral products dropped 25.3 per cent.
Statistics Canada says imports of the subcategory including unwrought gold, silver, and platinum group metals, and their alloys fell 60.5 per cent in large part because of lower gold asset transfers between financial institutions.
The agency also said imports of goods that typically come from Pacific Rim countries and rely on B.C. ports were lower. Imports of consumer goods fell 4.9 per cent, while electronic and electrical equipment and parts dropped 6.4 per cent. Imports of industrial machinery, equipment and parts declined 6.1 per cent.
Meanwhile, total exports rose 0.7 per cent as lower exports of some goods due to the port strike were more than offset by increases in products less affected by the job action.
This report by The Canadian Press was first published Sept. 6, 2023.
The Canadian Press
