Ottawa - Statistics Canada says the country's goods trade surplus reached 1.5 billion dollars in August, the lowest monthly surplus so far this year.

This result compares to a seasonally adjusted surplus of 2.4 billion dollars for July, down from the initial reading for the month which showed a surplus of 4.1 billion dollars.

Statistics Canada says total exports fell by 2.9 percent to 65.4 billion dollars in August as they declined for the second consecutive month.

A gantry crane tower above a container ship being unloaded at the Port of Vancouver, British Columbia, Thursday, February 10, 2022.

Energy product exports dropped by 6.0 percent to 18.4 billion dollars with crude oil exports down by 5.7 percent,

largely due to price declines. Meanwhile, total imports fell by 1.7 percent to 63.9 billion dollars, the second consecutive monthly decline.

Imports of vehicles and parts lost 7.1 percent in August, with passenger cars and light trucks imports falling 9.5 percent, and engines and parts imports down by 7.4 percent.

Editor: Yusra Bamtaraf