Trade deficit increased to $3B in March, StatsCan says
Deficit was far bigger than the $850 million that economists had expected.
OTTAWA — Statistics Canada says the country’s trade deficit grew to $3 billion for March as growth in exports failed to keep pace with the growth in imports.
That deficit was far bigger than the $850 million that economists had expected, according to Thomson Reuters.
Statistics Canada also revised the result for February to show a deficit of $2.2 billion compared with its earlier reading of a $984-million deficit as exports of energy products were updated.
The March deficit grew compared with February as imports increased 2.2% while exports edged up 0.4%.
Import volumes rose 1.5%, while prices increased 0.6%. For exports, volumes increased 1.9%, while prices declined 1.5%.
Canada’s trade surplus with the US increased to $2.2 billion in March compared with $1.9 billion in February. Meanwhile, Canada’s trade deficit with countries other than the US widened to $5.2 billion compared with $4.2 billion in February.
© 2015 The Canadian Press