March trade surplus up; exports, imports down
Statistics Canada says exports and imports both slipped in March, but the country’s trade surplus rose to $351 million from $273 million in February.
OTTAWA: Statistics Canada says exports and imports both slipped in March, but the country’s trade surplus rose to $351 million from $273 million in February.
The agency says exports edged down 0.4% to $39.5 billion with shipments of energy products leading the decline, down 8.9%, with dips recorded in forestry (0.3%) and automotive (0.7%).
Exports of industrial goods and materials were up (6.2%) as were machinery and equipment (3.4%).
Imports decreased 0.6% to $39.1 billion amid lower imports of energy products and industrial goods and materials.
Exports to the US – Canada’s biggest market – fell 2.1% to $28.7 billion, the third consecutive monthly decrease.
Meanwhile, imports from the US declined 1.4% to $24.1 billion as our trade surplus with the Americans decreased to $4.6 billion in March from $4.9 billion in February.
Exports to countries other than the US rose 4.5% to $10.8 billion and imports increased 0.8% to $15.1 billion, narrowing the trade deficit with those countries to $4.3 billion from $4.6 billion in February.
© 2012 The Canadian Press