OTTAWA — Statistics Canada says the country’s merchandise trade deficit narrowed to $1.1 billion in November compared with a revised deficit of $1.6 billion in October as imports fell faster than exports.
Economists had expected a deficit of $1.15 billion, according to financial markets data firm Refinitiv.
Statistics Canada says the widespread declines in export and import products coincided with disruptions in Canadian rail transportation during the month.
Canadian National Railway Co. was hit by a strike in November that halted shipments, triggered layoffs and disrupted industries across the country.
Exports fell 1.4 per cent in November to $48.7 billion, as seven of 11 product categories moved lower. Imports dropped 2.4 per cent to $49.8 billion for the month, with 10 of 11 sectors down.
Canada’s trade deficit with the world for goods and services combined was $2.6 billion in November.
This report by The Canadian Press was first published Jan. 7, 2020.
The Canadian Press