Canadian trade deficit balloons to $1.9B as exports fall more than imports
Major pullback follows surging start to the year; Statistics Canada reported a $628 million deficit in January
Exporting & Importing
Food & Beverage
Mining & Resources
Oil & Gas
OTTAWA—Statistics Canada says the trade deficit with other countries increased to $1.9 billion in February as exports fell faster than imports.
Economists had expected a deficit of $900 million for February, compared with $628 million in January, according to Thomson Reuters.
Statistics Canada says exports fell 5.4 per cent to $43.7 billion for the month, after hitting a record high in January.
The drop was led by consumer goods, energy products, and motor vehicles and parts, partially offset by higher exports of aircraft and other transportation equipment and parts
Meanwhile, imports slipped 2.6 per cent to $45.6 billion in a widespread decline led by a drop in energy products.