Statistics Canada says merchandise trade deficit narrowed to $1.7 billion in December

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OTTAWA — Statistics Canada says the country’s merchandise trade deficit narrowed to $1.7 billion in December, the smallest deficit since June, as energy exports rose.

The agency says the result for the final month of the year compared with a deficit of $3.6 billion in November.

Total exports rose 1.5 per cent to $47.3 billion in December as six of the 11 product sections moved higher with energy products up 10.2 per cent at $7.5 billion, boosted by higher crude oil prices.

Non-energy exports edged up 0.1 per cent.

Statistics Canada says total imports fell 2.3 per cent to $49.0 billion in December, the second consecutive monthly decline and the largest drop since May.

In volume terms, exports increased 0.5 per cent, while imports fell 1.5 per cent.