Statistics Canada Reports $1.1B Merchandise Trade Deficit for August

A truck carries a cargo container at the Port of Vancouver Centerm container terminal in Vancouver, on Oct. 14, 2022. The Canadian Press/Darryl Dyck

Statistics Canada says the country posted a merchandise trade deficit of $1.1 billion in August as lower oil prices weighed on exports.

The agency says the result compared with a revised deficit of $287 million in July. The initial reading for July released last month pointed to a surplus of $684 million for the month.