Canadian trade deficit grew in October as oil prices weighed on exports

OTTAWA -- Statistics Canada says the country's merchandise trade deficit increased to roughly $1.2 billion in October compared with $891 million in September as a drop in energy prices weighed on exports.

Economists had expected a deficit of $700 million, according to Thomson Reuters Eikon.

See Full Article



Advertisements

Latest Economic News

  • Federal budget shows Alberta's oil and gas sector not a priority, industry group says

    Economic CBC News
    The oil and gas industry's main lobby group says the federal government's 2019 budget does nothing to get people back to work or spur investment in Alberta's key industry. The Canadian Association of Petroleum Producers (CAPP) says the federal budget sends a message that oil and gas jobs are not a priority. Source
  • Pot sector players welcome edibles tax change, but unhappy medical tax remains

    Economic CTV News
    TORONTO -- Cannabis industry players welcomed the change in the Federal Budget to tax edibles, extracts, oils and concentrates based on the amount of tetrahydrocannabinol rather than weight, as it could ease pricing for some products and potentially boost product availability. Source
  • Canada says B.C.'s proposed permitting regime for pipelines is unconstitutional

    Economic CTV News
    VANCOUVER -- A lawyer for the federal government says British Columbia is overreaching with an unconstitutional effort to regulate oil and gas shipments through its lands and waters. The B.C. Court of Appeal is hearing a reference case that asks if the provincial government can create a permitting regime for companies that transport hazardous substances through the province. Source
  • SNC-Lavalin CEO says firm never cited 9,000 jobs as reason for deserving DPA

    Economic CBC News
    The head of SNC-Lavalin says its role as a Canadian global champion will be undermined if the embattled engineering firm is barred from bidding on federal contracts and its local employees are forced to work for foreign competitors. Source
  • SNC-Lavalin CEO says employees will move to foreign rivals if it is debarred

    Economic CTV News
    TORONTO -- SNC-Lavalin's local employees will be forced to work for foreign competitors if the embattled engineering firm is barred from bidding on federal contracts, diminishing its role as rare Canadian global champion, the company's CEO said Wednesday. Source
  • SNC-Lavalin CEO says he never cited job losses in push for remediation agreement

    Economic CTV News
    TORONTO -- The chief executive of SNC-Lavalin Group Inc. says he never cited the protection of 9,000 Canadian jobs as a reason it should be granted a remediation agreement to avoid a criminal trial on allegations the company paid millions of dollars in bribes to obtain government business in Libya. Source
  • NDP leader promises to spend $7B over 10 years to spur energy investment

    Economic CBC News
    NDP Leader Rachel Notley is promising to spend $7 billion over 10 years on incentives for companies willing to build petrochemical and upgrading facilities in Alberta if she is re-elected. The investment would nearly double the $3.6 billion in incentives already committed by Notley's government. Source
  • Timmies much? Now there's a reward for that

    Economic CTV News
    Tim Horton’s is now rewarding customers with a free coffee or baked good for every seventh visit, as part of a new loyalty program rolling out in Canada. With the Tims Rewards loyalty card, a patron’s seventh trip to the restaurant will make them eligible for one any-sized coffee or hot tea, or baked goods -- except for Timbits or bagels. Source
  • U.S. Fed chair unlikely to raise interest rates anytime soon

    Economic CBC News
    The soothing message the Federal Reserve has been sending in recent weeks — no interest rate hikes are likely for months to come — will likely be reinforced when it ends its latest policy meeting Wednesday. Source
  • Materials sector weighs on stocks in Toronto, U.S. markets trade lower

    Economic CTV News
    TORONTO - Losses in the materials sector weighed on Canada's main stock index in late-morning trading, while U.S. stock markets also moved lower. The S&P/TSX composite index was down 16.32 points at 16,171.78. In New York, the Dow Jones industrial average was down 85.17 points at 25,802.21. Source