Canada\'s world trade deficit expands again

Canada\'s world trade deficit expanded from $1.9 billion in June to $2.3 billion in July amid shrinking exports, Statistics Canada reported Tuesday. Exports declined by 3.4 percent to $37.7 billion in July, while imports also dipped by 2.2 percent to $40.1 billion, the agency said. The export market was mostly impacted by the energy sector, the report said. \"Exports of energy products fell 8.5 percent to $8.2 billion in July on lower volumes and prices,\" StatsCan said. \"Crude petroleum exports, down 9.6 percent to $5.1 billion, led the decline.\" The agency breaks down Canada\'s trade with the United States and all other countries. Exports to the United States fell 5 percent to $27.4 billion on a monthly basis in July while imports declined 2.1 percent to $25.3 billion, lowering Canada\'s trade surplus with the United States to $2.1 billion from $3 billion a month earlier. \"Imports from countries other than the United States decreased 2.4 percent to $14.7 billion while exports rose 1.2 percent to $10.3 billion,\" the report said. \"As a result, Canada\'s trade deficit with countries other than the United States narrowed from $4.9 billion in June to $4.4 billion in July.\"