By Promit Mukherjee

OTTAWA (Reuters) -Canada’s trade deficit narrowed in July as overall exports rose, especially driven by outbound shipments of crude oil and passenger cars to its biggest trading partner the United States, Statistics Canada said on Thursday.

Its merchandise trade deficit, or deficit from trading in goods, in July was at C$4.94 billion ($3.57 billion), smaller than last month’s C$5.98 billion, but much higher than the same period last year, according to Statistics Canada’s data.

Analysts polled by Reuters had forecast the trade deficit for July at C$4.75 billion.

This was the sixth consecutive trade deficit since the U.S. President Donald Trump imposed tariffs on Canada, but it has been improving from an all-time record deficit of C$7.6 billion observed in April.

Tru

See Full Page