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- Canada’s trade deficit narrows less than forecast in March
Canada’s trade deficit narrows less than forecast in March
Statistics
Canada announced on Thursday that Canada’s merchandise trade deficit stood at
CAD3.21 billion in March, narrowing from a revised CAD3.42 billion gap in February
(originally a CAD2.90-billion deficit).
Economists
had expected a deficit of CAD2.45 billion.
According
to the report, the country’s exports increased 3.2 percent m-o-m in March, led
in part by higher exports of energy products (+7.7 percent m-o-m).
Meanwhile,
imports rose 2.5 percent m-o-m in March, in part due to higher imports of
consumer goods (+6.7 percent m-o-m) and motor vehicles and parts (+4.9 percent
m-o-m).
For
the first quarter of 2019, Canada’s trade gap widened to CAD10.4 billion from
CAD7.8 billion in the same period of 2018. That was the largest deficit since the second
quarter of 2016.
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