OTTAWA - Higher oil prices helped shrink the country’s merchandise trade deficit in January as exports rose faster than imports to start the year, Statistics Canada said Wednesday. The agency said the deficit to $4.2 billion in January compared with a revised deficit of $4.8 billion for December. Statistics Canada says the country's merchandise trade deficit narrowed to $4.2 billion in January as higher oil prices helped exports rise faster than imports. ( Andrew Vaughan / THE CANADIAN PRESS )Economists had expected a deficit of $3.5 billion for January, according to Thomson Reuters Eikon. Statistics Canada said total exports rose 2.9 per cent to $47.6 billion in January, the first increase since July 2018.

Source: thestar March 27, 2019 12:56 UTC