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| - Canada's trade deficit remained virtually unchanged at Can$3.8 billion (US$3.0 billion) in October, the government statistical agency said Friday. Its imports and exports since a surge in July -- after a spring Covid-19 lockdown was lifted -- have shifted slightly away from its top partner the United States. According to Statistics Canada, trade with the United States in October was 0.3 percent below July levels, while with other countries it rose 10.6 percent. The largest recent increases in imports were from China and South Korea, while Britain and the Netherlands contributed the most to growth in exports. As a result, Canada's trade surplus with the United States widened from Can$1.7 billion in September to Can$3.0 billion in October. Total exports increased 2.2 percent to Can$46.5 billion -- below pre-pandemic levels -- with growth in consumer goods partially driven by a rebound in foreign sales of pharmaceutical products (+39 percent). Notably more medications for treating psoriasis were sent to the United States, after a plunge in September of anti-depressants also shipped to its southern neighbor. Crude oil and natural gas exports were also up in October, while exports of motor vehicles and parts fell. Despite the monthly decline, export of autos and light trucks in October were higher than in February. Total imports, meanwhile, rose 1.9 percent to Can$46.5 billion, exceeding the February level for the first time since the Covid-19 outbreak began. This was due in part to higher imports of cell phones as new models were introduced outside the typical release cycle. Imports of appliances, clothing and footwear also rose. But imports of gold and silver fell. Despite this monthly drop, imports of metal and non-metallic mineral products reached record levels so far in 2020, up fivefold from the same period last year. amc/ft
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