Canada's trade deficit more than doubles in July

Ottawa, Sep 5 (IANS) Canada's trade deficit more than doubled in July, as imports increased and exports moved oppositely, said official data.

Data released by Statistics Canada showed that the country's trade gap widened from canadian $460 million in June to Canadian $931 million in July, reported Xinhua Wednesday.

Merchandise imports grew 0.6 percent in July to Canadian $40.15 billion on higher volumes in metal ores and non-metallic minerals, basic and industrial chemical, plastic and rubber products, and metal and non-metallic mineral products, the data showed.

Exports declined 0.6 percent to Canadian $39.22 billion, with lower exports of aircraft as well as unwrought precious metals and precious metal alloys as the main contributors, according to the figures.

Imports from the United States rose 2.7 percent to Canadian $26.3 billion, while exports to the United States were up 0.8 percent to Canadian $29.4 billion, the data said.

Exports to countries other than the US fell 4.5 percent to Canadian $9.8 billion, with the European Union leading the way, down 15.9 percent, the figures showed.

Meanwhile, imports from countries other than the US were down 3.1 percent to Canadian $13.9 billion, with the EU being the biggest contributor, according to the data.

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