Canada sees $2.3B trade deficit in March, largest since June

Exports declined 5.3%, while imports were down 1.2%

By Ovunc Kutlu

ISTANBUL (AA) - Canada saw a trade deficit of $2.3 billion in March, which marked the largest trade deficit since June 2023, according to figures released Thursday by Statistics Canada.

The market expectation was to show a trade surplus of $1.1 billion, while the North American country posted a trade surplus of $476 million in February.

Merchandise exports declined 5.3% in March, while imports were down 1.2%.

"Overall, decreases were observed in 9 of the 11 product sections," Statistics Canada said in a statement.

"Following a 69.9% surge in February, exports of unwrought gold, silver, and platinum group metals and their alloys—a category largely composed of unwrought gold—contributed the most to the decline, falling $1.6 billion or 32.5% in March," it added.

Kaynak:

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