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Global markets: Canada’s trade balance sees surplus

By Commodity News Service Canada

WINNIPEG, February 7 – The following is a glance at the news moving markets globally.

– Canada’s merchandise trade balance with the world recorded its second consecutive monthly surplus, narrowing from a revised C$1.0 billion in November to C$923 million in December. Exports were up 0.8 per cent on the strength of higher energy product prices. Imports increased one per cent, mainly on stronger imports of aircraft and industrial machinery, Statistics Canada said in a report on Tuesday.

– The US trade deficit dropped more than analysts had expected, according to reports out of the country on Tuesday.

The country’s commerce department said America’s trade gaps fell 3.2 per cent to US$44.3 billion.

Stronger exports, the highest level in one-and-a-half years, were responsible for closing the gap.

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