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Canada's trade deficit flips to a surplus in October

OTTAWA, Dec. 4 (UPI) -- Canada's merchandise trade balance went from a deficit in September to a surplus in October, Statistics Canada reported Wednesday from Ottawa.

From September to October, exports fell 0.3 percent, while imports declined at a faster pace, down 1.2 percent. Consequently, the trade balance for the country moved from a $303 million deficit to a $75 million surplus, StatsCan said.

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Imports dropped to $40.4 billion with lower imports of energy products and motor vehicles partly offset by higher volumes of chemical, plastic and rubber product imports.

Prices for imports dropped 1.2 percent.

The agency said imports from the United States rose 1 percent to $26.5 billion while exports to Canada's neighbor to the south rose 0.2 percent to $30.4 billion.

Imports from countries other than the United States fell 5.1 percent to $13.9 billion.

Exports decreased to $40.5 billion with prices for exports dropping 0.3 percent, StatsCan said.

Canada exported fewer vehicles and aircraft compared to the previous month. Exports of farm, fishing and intermediate food products and consumer goods increased, the data office said.

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