Due to a decline in exports, Canada's trade deficit in August widened more than expected.

Jin10 data reported on October 7, the official statistics released by the Canadian government on Tuesday showed that Canada's merchandise trade deficit widened to CAD 6.32 billion (approximately USD 4.53 billion) in August, as both the decline in export value and volume outpaced monthly import growth. The trade deficit in August was the first expansion since April, primarily due to a decline in exports to its largest trading partner, the United States, as well as a contraction in exports to other regions of the world. Statistics Canada indicated that total exports fell by 3%, while imports increased by 0.9%. Exports to the United States in August were CAD 44.18 billion, down 3.4% from July, mainly impacted by a decrease in exports of raw gold. However, other product categories also contributed to the decline in exports, including lumber, machinery, and equipment.