Canada's exports were down 1.2% in October, principally on lower exports of crude oil. Imports were down 0.6%, mainly due to fewer imports of passenger cars and light trucks. As a result, Canada's merchandise trade deficit with the world widened from $891 million in September to $1.2 billion in October.

In real (or in volume) terms, exports showed an opposite movement (+1.2%) compared with nominal export values in October, as lower energy product prices led to a 2.3% decrease in total export prices. Meanwhile, real imports were essentially unchanged in October.