Canada records $506M merchandise trade deficit for March: StatCan

Canada posted a merchandise trade deficit of $506 million in March as exports to the U.S. fell with the implementation of new tariffs, but shipments to other countries climbed.

Statistics Canada says the result compared with a deficit of $1.4 billion in February.

Overall exports edged down 0.2% to $69.9 billion in March as exports to the U.S. fell 6.6%, but exports to countries other than the U.S. rose 24.8%.

Imports fell 1.5% to $70.4 billion as imports of metal and non-metallic mineral products dropped 15.8% and energy products lost 18.8%.

Canada’s merchandise trade surplus with the U.S. was $8.4 billion in March compared with $10.8 billion in February, while the country’s trade deficit with countries other than the U.S. was $9 billion in March compared with $12.2 billion in February.

In volume terms, total exports rose 1.8% in March, while imports ticked down 0.1%.

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.