Canada’s Merchandise Trade Deficit Reaches $2.3 Billion in March, According to Statistics Canada

Statistics Canada reports that in March, the country had a merchandise trade deficit of $2.3 billion.

This deficit is the largest since June 2023, following a surplus of $476 million in February.

March saw a 5.3 percent decrease in total exports, amounting to $62.6 billion, mainly due to a decrease in exports of unwrought gold that had surged in February.

Additionally, exports of metal and non-metallic mineral products decreased by 17.4 percent in March.

On the other hand, imports decreased by 1.2 percent to $64.8 billion in March. Notably, imports of electronic and electrical equipment and parts fell by 8.1 percent.

In terms of volume, total exports fell by 4.7 percent, while total imports decreased by 1.2 percent.

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