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Canada's trade gap more than doubled in July

OTTAWA, Sept. 4 (UPI) -- Canada's merchandise trade balance widened sharply in July, Statistics Canada reported Wednesday from Ottawa.

From June to July, exports shrank 0.6 percent and imports grew 0.6 percent. That more than doubled the trade gap, which went from $460 million in June to $931 million in July, StatsCan said.

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Imports rose to $40.1 billion with volumes up 1 percent and prices down 0.4 percent.

The agency said rising imports included metal ores, non-metallic minerals, industrial chemicals and plastic and rubber rose.

Imports from the United States rose 2.7 percent in the month to $26.3 billion.

Exports to the United States also rose, climbing 0.8 percent to $29.4 billion.

The trade surplus Canada enjoys with the United States dropped from $3.6 billion in June to $3.2 billion July, StatsCan said.

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