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Canada posts small trade deficit in January

Published on Mar 7, 2014 11:56 PM

OTTAWA (AFP) - Canada's trade swung into virtual balance in January with a deficit of only Can$177 million (S$204 million), compared to a Can$922 million deficit the previous month, the government said Friday.

The improved trade balance surprised economists who had expected a Can$1.5 billion deficit.

Statistics Canada also revised downward by nearly half its initial estimate of the December deficit from Can$1.7 billion.

The change was due to a 1.6 per cent drop in imports to Can$40.8 billion in January, with energy and auto parts imports declining due to the closing of US factories because of harsh winter weather.

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