Canada’s trade trade deficit widened in August, in which imports are falling faster than roses

Official government data showed on Tuesday that Canada’s trade trade deficit increased to $ 6.32 billion in August, as exports fell rapidly than increase in exports.

In August, the trade deficit was led not only with a decline in exports to its top trading partner, the US, but also because its shipments in the rest of the world shrunk in the month.

Canadian international trade numbers beat up one earlier this year, as US President Donald Trump imposed a sectoral tariff on the country, forcing businesses to rebuild supply chains from their biggest trading partner. But the shift has been unstable and uncertain.

The analysts voted by the Reuters had estimated the August 5.55 billion trade deficit from the previous month to $ 5.55 billion.

Statistics Canada said that total exports declined by three percent, while imports increased by 0.9 percent.

The data collection agency said that in August, the export to the US was $ 44.18 billion, which was 3.4 percent below July, saying that it was primarily led by uncontrolled gold exports. But other product categories contributed to the decline, including wood, machinery and equipment.

Canada’s share of exports to the US has been unstable but is gradually shrinking. Last year, compared to 75 percent during the same period, it fell below 70 percent a few months before he recovered up to 73 percent in August.

Prime Minister Mark Carney will hold a meeting with Trump on Tuesday as he comes under pressure to address the effects of American tariffs on important areas such as steel, car and wood. But experts have warned against the possibility of any major deal.

Import from the US was down 1.4 percent on a monthly basis in August, lowering the total trade surplus with its southern neighbor in July by $ 6.43 billion.

Statistics Canada said exports to other countries other than the United States were two percent lower, the third consecutive monthly decline, the statistics Canada said. Low export of crude oil and nuclear fuel contributed the most to monthly deficiency.

Although its imports from the rest of the US increased to 4.2 percent, reached a record in August, the agency figures were revealed, the Canadian trade deficit with other countries besides the United States increased to $ 12.8 billion in August to increase from $ 11.2 billion to $ 11.2 billion from $ 11.2 billion to $ 11.2 billion.