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Trade deficit grows to $2.7B in February: Statistics Canada

Surplus with the United States narrowed to $2.6 billion compared with $2.9 billion in January.

April 5, 2018   by CP STAFF

OTTAWA — Statistics Canada says the country ran a merchandise trade deficit of $2.7 billion in February compared with a deficit of $1.9 billion in January.

Economists had expected a deficit of $2 billion, according to Thomson Reuters.

The increased deficit came as imports rose 1.9% to $48.6 billion, boosted by imports of energy products.

Exports increased 0.4% to $45.9 billion, due to higher exports of passenger cars and light trucks.

Regionally, Canada’s trade surplus with the United States narrowed to $2.6 billion in February compared with $2.9 billion in January as imports from the U.S. grew 3.3%. Exports to the US increased 1.9%.

Canada’s trade deficit with countries other than the US increased to $5.3 billion in February from $4.9 billion in January.


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