Statistics Canada says the country ran a $972 million trade deficit for the month; economists had been predicting a surplus
OTTAWA—Canada posted a trade deficit for February, defying the expectations of economists who had predicted a surplus.
Statistics Canada says the country ran a $972 million trade deficit for the month as exports fell and imports edged higher.
Economists had expected a surplus of $500 million, according to Thomson Reuters.
Exports in February declined 2.4 per cent to $45.3 billion after reaching a record high in January.
Imports in February gained 0.6 per cent to $46.3 billion.
Canada’s trade surplus with the United States increased to $4.5 billion in February from $4.4 billion in January.
The country’s trade deficit with countries other than the U.S. increased to $5.4 billion for February compared with $4.0 billion in January.