Canada’s trade deficit became surplus in February: StatsCan
Statistics Canada said February saw surplus of $290-million after deficit of $337-million in January
OTTAWA—Statistics Canada says merchandise exports grew 3.6 per cent and imports were up 2.1 per cent in February.
The agency says Canada’s trade balance with the world went to a surplus of $290-million in February from a deficit of $337-million in January.
The report says exports rose to $42.3-billion on the strength of motor vehicles and parts as well as energy products.
Imports grew to $42.1-billion on higher imports of energy products, motor vehicles and parts, as well as industrial machinery, equipment and parts.
Exports to the United States rose 4.4 per cent to $32.4-billion and imports increased 3.3 per cent to $28.1-billion as the trade surplus with the U.S. increased to $4.3-billion in February from $3.9-billion in January.
Exports to other countries were up 1.1 per cent to $9.9-billion while imports edged down 0.2 per cent to $14-billion, narrowing the trade deficit with those countries to $4-billion in February from $4.2-billion in January.