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- Canada's trade deficit widened from $2.9 billion in February to a record $4.1 billion in March
Canada's trade deficit widened from $2.9 billion in February to a record $4.1 billion in March
Canada's imports rose 6.0% to a record $51.7 billion in March. Exports also increased, up 3.7% to $47.6 billion. As a result, Canada's merchandise trade deficit with the world widened from $2.9 billion in February to a record $4.1 billion in March.
In real (or in volume) terms, imports rose 5.3% and exports were up 3.0%.
Imports rose 6.0% to a record high $51.7 billion in March, with increases in 9 of 11 sections. Motor vehicles and parts and also consumer goods were largely responsible for the increase. Year over year, imports were up 9.2%.
Imports of motor vehicles and parts rose 8.3% to $10.3 billion, the strongest increase since 2011. Passenger cars and light trucks contributed the most to the March increase, rising 13.0%. Higher than usual import levels for March were observed for light trucks. For the section as a whole, volumes rose 10.0%, while prices fell 1.5%.
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