Canada's trade deficit in August narrowed to $1.34 billion from $2.55 billion in July, its largest deficit since 1971, as exports increased and imports fell.
Exports rose 3.1 percent to $34 billion in August, and imports dropped 0.5 percent to $35.3 billion led by imports of automotive products which fell 6.5 percent.
The ever-present weakness of the US dollar has continued, as the Canadian currency strengthened Thursday to beyond parity with its US counterpart for the first time since April. The Canadian dollar gained as much as 0.5 percent to 99.81 Canadian cents per US dollar.