INDUSTRY PULSE: Imports decline in most sectors

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OTTAWA, Ont. — Canada’s imports declined in all major sectors in July, except automotive products where they registered a 1.0% gain, Statistics Canada reports.

The gains in the automotive products industry occurred as several companies built up inventories of motor vehicle parts used in the production of popular models, the statistical agency commented in its Daily Bulletin.

Energy imports edged down 0.3% in July as a drop in imports of products such as coal offset a gain in crude petroleum imports, which hit a record high of $1.8 billion in July.

Imports of machinery and equipment fell 1.4%, the first decline for this sector in 2005. During the first six months of the year, imports of machinery employed in industries such as oil and gas, mining, and transportation, concentrated in the Western provinces, had been steadily rising. Imports of information and communication technologies had also increased during this period. Machinery and equipment imports remained high at $9.2 billion, slightly above May levels.

Imports of other consumer goods fell 2.8% from June’s record high of $4.2 billion. A decline in imports of miscellaneous end products, comprised primarily of pharmaceutical products, accounted for the majority of the fall.

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