OTTAWA, Nov 6, 2024 (BSS/AFP) - Canada posted a slightly smaller trade deficit of Can$1.3 billion (US$940 million) for the month of September as prices for many goods fell, the national statistical agency said Tuesday.

Stripping out lower prices, the country actually "saw decent growth on the export side of the ledger," TD Economics's Marc Ercolao commented in a research note.

"Still, economic momentum in the broader economy is showing signs of cooling," he said, noting that trade volumes "have effectively flatlined for the year."

The September deficit was down from Can$1.5 billion the previous month, which Statistics Canada revised upward.

It said exports decreased in September for a third consecutive month, by 0.1 percent, led by lower prices, while imports fell 0.4 percent.

It noted lower exports of unwrought gold, and crude oil, which was partially offset by higher shipments of private jets to the United States, and higher exports of pulp and paper.

Imports of unwrought gold were also lower, while imports of refined petroleum energy products increased.

Trade with the United States -- Canada's largest trading partner -- was up slightly in the month, resulting in a slightly widened trade surplus of Can$8.3 billion with its neighbor.