Statistics Canada said that both imports and exports declined in Canada in August as country's trade deficit increased to USD 2 billion.

It added that after two months of increases, exports in all sectors fell by 5.1% MoM to USD 29.2 billion in August from USD 30.8 billion in July. Imports fell 2.8% MoM to USD 31.2 billion in August after July's 9.4% gain to USD 32.1 billion.

StatsCan said that "Since July 2008, export volumes have fallen by 21.3% and prices have declined by 16.3%. In comparison, import volumes have fallen by 18.1% while prices have decreased by 3.5%."

Canada maintained an unchanged trade surplus with its biggest trading partner, the United States, of USD 2.2 billion. However, Canada's trade deficit with other countries increased to USD 4.2 billion in August from USD 3.5 billion in July.

(Sourced from www.upi.com)