Canada’s Trade Surplus Falls to 2022-Low on Oil Price Drop

Canada’s merchandise trade surplus came in smaller-than-expected in August as both exports and imports fell, in another sign of weakness for the nation’s economy.

The surplus fell to C$1.52 billion ($1.12 billion), from a downwardly revised C$2.37 billion in July, Statistics Canada reported Wednesday from Ottawa. It was the smallest monthly trade surplus this year. Economists were anticipating exports to exceed imports by C$3.5 billion in August.