Exports, imports up in March, producing trade surplus: StatsCan

OTTAWA—Statistics Canada says booming exports produced a trade surplus of $24-million in March, compared with a $1.2-billion deficit in February.

The change came as merchandise exports increased 5.1 per cent to $40.5-billion while imports rose just 1.7 per cent, to $40.4-billion.

Export gains were recorded in all sectors in March, while the main contributors to higher imports were energy products and metal and non-metallic mineral products.

Exports to the United States rose four per cent to $29.5-billion, while imports from the U.S. were up two per cent to $25.6-billion, raising the trade surplus with that country to $3.8-billion from $3.2-billion in February.

Exports to countries other than the U.S. rose 7.9 per cent to $11-billion, while imports from those countries rose 1.2 per cent, to $14.8-billion.

That cut the trade deficit with those markets to $3.8-billion from $4.4-billion in February.

Exports of energy products rose 3.9 per cent to $9.1-billion in March, mainly because of a 24.8 per cent increase in volumes of natural gas.