Canadian trade deficit grows in August

Canada's international trade deficit with the world grew to $622 million from $539 million August, Statistics Canada reported Thursday. The gap expanded as imports rose 0.7 percent to $38.5 billion while exports increased by 0.5 percent $37.9 billion, the report said. The agency breaks down its figures by trade with the country's largest trading partner, the United States, and all other countries. "Exports to countries other than the United States increased 7.9 percent to a record high of $11.2 billion," StatsCan said. "Imports from countries other than the United States fell 1.4 percent to $14.4 billion." As for U.S. trade, Canada has a trade surplus, which declined from $3.7 billion in July to $2.5 billion in August. That was based on exports falling 2.3 percent to $26.6 billion as imports rose 2 percent to $24.1 billion, the report said.