Canadian imports plummet, helping trade balance: data

OTTAWA: Canada's trade surplus grew by 38 percent in August due to the biggest monthly percentage drop in imports since 1991, Statistics Canada said Friday.

Imports fell 5.8 percent to 37.3 billion Canadian dollars (31.5 billion US) in August in the first decrease since March, due to lower energy and automotive imports, said the government agency.

"The decline in imports was the largest percentage drop since December 1991," said Statistics Canada. "Total import volumes fell 6.9 percent, while prices increased 1.1 percent."

At the same time, exports fell 1.6 percent to 43.1 billion dollars (36.4 billion US) in the first decline since December 2007. Export volumes were down 1.5 percent, while export prices remained relatively unchanged.