Statistics
Canada reported on Thursday that Canada recorded a trade deficit of CAD1.39
billion in February compared to a revised surplus of CAD0.61 billion (from CAD0.50 billion) in January.
This represented the largest trade surplus since
October 2023 (CAD2.53 billion).
Economists had forecast
a surplus of CAD0.80 billion.
According to the report, Canada’s exports climbed
by 5.8 per cent m-o-m to CAD66.62 billion in February, as 9 of 11 product sections showed increases
in exports, led by metal and non-metallic mineral products (+31.1 per
cent m-o-m), farm, fishing and intermediate food products (+9.7 per cent m-o-m), and industrial
machinery, equipment and parts (+7.4 per cent m-o-m). Meanwhile, imports jumped
by 4.6 per cent m-o-m to CAD65.23 billion in February, as 10 of the 11 product sections demonstrated gains, driven by metal ores and
non-metallic minerals (+23.1 per cent m-o-m), energy products (+10.2 per cent
m-o-m), electronic and electrical equipment and parts (+9.7 per cent m-o-m).