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- Canada’s trade balance posts a CAD1.14 billion deficit in March
Canada’s trade balance posts a CAD1.14 billion deficit in March
Statistics
Canada announced on Tuesday that Canada recorded a trade deficit of CAD1.14
billion in March, compared with a revised CAD1.42-billion surplus in February
(originally a CAD1.04-billion surplus). This was the first trade shortfall
following two consecutive monthly trade surpluses.
Economists
had forecast a surplus of CAD0.70 billion.
According
to the report, Canada’s exports rose 0.3 percent m-o-m to CAD50.62 billion in March, as higher exports of motor
vehicles and parts (+10.2 percent m-o-m) and metal ores and non-metallic
minerals (+33.0 percent m-o-m) were partly offset by declines in exports of
energy products (-6.7 percent m-o-m) and aircraft and other transportation
equipment and parts (-23.8 percent m-o-m). Meanwhile, imports surged 5.5
percent m-o-m to CAD51.76 billion in March (the highest level since May 2019), as
all 11 product sections posted monthly gains, led by imports of energy products
(+54.7 percent m-o-m).
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