(Bloomberg) -- Canada's merchandise trade deficit exceeded C$3 billion ($2.5 billion) for a second month in July as exports slumped.
The shortfall of C$3.04 billion followed a revised C$3.76 billion reading for June, Statistics Canada reported Wednesday from Ottawa. Economists predicted a C$3.3 billion deficit according to the median in a Bloomberg survey.
Exports fell by 4.9 percent in July, and are down almost 10 percent over two months, adding to concerns Canada's recovery may be more fragile than it appears. Imports, meanwhile, declined by 6 percent. Statistics Canada attributed the declines to price swings as the country's currency surged against the U.S. dollar.
--With assistance from Erik Hertzberg
To contact the reporter on this story: Greg Quinn in Ottawa at gquinn1@bloomberg.net.
To contact the editors responsible for this story: Theophilos Argitis at targitis@bloomberg.net, Chris Fournier
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