Canada: trade surplus declines in August to $1.5 billion

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: August’s trade surplus fell to $1.5 billion” />

Canada's trade surplus fell in August. (archive)

Canada's trade surplus stood at $1.5 billion in August, its lowest level since the beginning of the ;year, Statistics Canada said Wednesday.

That result compared with a revised surplus of 2.4 billion for the month of July, a figure down from an initial reading 4.1 billion.

Total exports fell 2.9% to $65.4 billion in August, losing ground for a second month in a row, the federal agency said.

Exports of energy products fell 6% to 18.4 billion, while exports of crude oil fell 5.7%, mainly due to lower prices.

Canadian oil exports fell in August.

Meanwhile, total imports slipped 1.7% to $63.9 billion, the second straight monthly decline.

Imports of motor vehicles and parts fell 7. 1% in August, as imports of passenger cars and light trucks fell 9.5% and those of m engines and parts that lost 7.4%.

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