OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed in January to $1.9 billion compared with a deficit of $3.1 billion in December.
Economists had expected a deficit of $2.5 billion for January, according to Thomson Reuters.
Statistics Canada says imports totalled $47.7 billion, down 4.3 per cent from a record level in December.
Imports of industrial machinery, equipment and parts fell 11.3 per cent to $4.5 billion in January, while imports of consumer goods dropped 4.6 per cent to $10.0 billion.
On the other side of the ledger, exports fell 2.1 per cent in January to $45.8 billion as seven of 11 sectors slipped lower.
Exports of motor vehicles and parts dropped 5.7 per cent to $7.2 billion in January, while exports of forestry products and building and packaging materials fell 6.6 per cent to $3.4 billion.