Canada Swings to Goods-Trade Deficit as Exports Drop
By Robb M. Stewart
OTTAWA--Canada swung to the biggest merchandise-trade deficit with the rest of the world in nine months in March with a pullback in exports as shipments of metals retreated.
The country posted a goods-trade deficit for the month of 2.28 billion Canadian dollars, the equivalent of about $1.66 billion, Statistics Canada said Thursday. The result sharply undershot the C$1.2 billion surplus the market was expecting, according to economists at TD Securities, and comes after February's surplus was revised down to C$476 million.
Exports were down 5.3% to C$62.56 billion in the latest month, while imports fell 1.2% to C$64.84 billion, the data agency said.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
May 02, 2024 09:02 ET (13:02 GMT)
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