Statistics Canada announced on Tuesday that Canada’s merchandise trade deficit stood at CAD0.98 billion in September, narrowing from a revised CAD1.24 billion gap in August (originally a CAD0.96-billion gap).

Economists had expected a deficit of CAD0.70 billion.

According to the report, the country’s exports fell 1.3 percent m-o-m in September, led by decreases in exports of metal and non-metallic mineral products (-7.3 percent m-o-m), farm, fishing and intermediate food products (-7.3 percent m-o-m) and energy products (-2.6 percent m-o-m). Meanwhile, imports declined 1.7 percent m-o-m in September, mostly on lower imports of metal and non-metallic mineral products (9.2 percent m-o-m), other transportation equipment and parts (-27.7 percent m-o-m) and metal ores and non-metallic minerals (-20.5 percent m-o-m).