Purchase of three icebreakers turns Canada’s August trade surplus into a deficit
OTTAWA — The summertime purchase of three ships from Sweden has wiped out Canada’s healthy trade surplus for August and replaced it with a deficit, Statistics Canada said Friday.
The agency made the revision to the August trade figures as it accounted for a $600-million acquisition of three icebreakers late in the month.
The $526-million trade surplus initially reported for August now shows a $551-million deficit. The change represents a swing in the trade balance of more than $1 billion.
Behind the August revision was a $981-million increase in Canada’s imports.