The purchase of three icebreakers turns Canada's trade surplus into a deficit in

OTTAWA – The summer purchase of three Swedish ships has erased Canada's excellent trade surplus for the month of August and replaced it with a deficit, Statistics Canada said Friday.

The agency revised the August trade figures because it represented an acquisition of three $ 600 million icebreaker at the end of the month.

The $ 526 million trade surplus initially announced for August shows a deficit of $ 551 million. The change represents a change in the trade balance of more than $ 1 billion.

Behind the August revision, there was a $ 981 million increase in Canadian imports.

"The bulk of this revision is due to the import of three high-value vessels, which were reported after the release of August data," said the agency about the deal .

"Three icebreakers were imported from Sweden at the end of August."

According to Statistics Canada, smaller revisions to monthly figures are common because purchases sometimes occur after the data are released. The agency also made upward revisions in August in other categories, including about $ 100 million for crude oil imports and $ 100 million for aircraft-related product imports.

Last month, the Canadian Coast Guard announced that three temporary icebreakers had been purchased for use over the next 15 to 20 years. The government agreed to buy three used icebreakers from the Quebec company Davie Shipbuilding for $ 610 million.

On average, existing Coast Guard vessels are over 35 years old and have lost hundreds of operational days in recent years due to mechanical breakdowns.

Statistics Canada also released its latest merchandise trade data showing that the country's trade deficit with the world was reduced to $ 416 million in September, with imports falling 0.4% and exports 0.2%.

The report indicates that Canadian trade with countries other than the United States has declined, with imports declining 3.3% and exports 1.8%. Its trade deficit with these countries rose from $ 5.6 billion in August to $ 5.2 billion.

Canada's trade surplus with the United States, by far its largest trading partner, declined in September to $ 4.8 billion from $ 5 billion previously. Imports to Canada from the United States increased by 1.2%, while exports south of the border increased by 0.4%.

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