Covid-19 crisis: Canada's exports, imports fall 1% in August, shows data

Canada's exports and imports both fell in August, hinting that the momentum of the recovery from the Covid-19 crisis could have slowed more than anticipated, data from Statistics Canada showed on Tuesday.

Imports fell 1.2 per cent, while exports were down 1.0 per cent. Canada's trade deficit, meanwhile, narrowed slightly to C$2.45 billion ($1.85 billion), missing analyst expectations of C$2.0 billion.

Statscan revised July's trade deficit to C$2.53 billion from an initial C$2.45 billion.

"The slowdown in trade showed up earlier than we had anticipated, and the drop in export volumes suggests that the recovery's momentum could have slowed more