Canada's International Merchandise Trade Deficit Lower Than Expected in October

08:48 AM EST, 01/08/2026 (MT Newswires) -- Canada's merchandise trade balance with the world went from a small surplus of $243 million in September to a deficit of $583 million in October as imports increased 3.4% month over month, while exports were up 2.1%, said the country's statistical agency on Thursday.

October's deficit was smaller than the $1.40 billion consensus deficit figure provided by MUFG.

Imports of electronic and electrical equipment and parts were up 10.2% month over month in October, with all product groups increasing, noted Statistical Canada in a statement. Imports of computers and computer peripherals (+32.2%) rose the most to reach a record high in October, mainly because of higher imports of processing units from Ireland.

Exports of unwrought gold, silver, and platinum group metals, and their alloys, increased the most in October. Excluding exports of this product group, total exports were down 2.5% month over month, added StatsCan.

Canada's trade surplus with the United States narrowed from $8.4 billion in September to $4.8 billion in October as exports to the U.S. were down 3.4% month over month, while imports from the U.S. increased 5.3%.

Canada's trade deficit with countries other than the U.S. narrowed from $8.1 billion in September to $5.4 billion in October on higher exports of gold and oil. This was the lowest deficit since January 2021, according to the Ottawa-based agency.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.