Canada posted smaller merchandise trade surplus in February: StatsCan
BNN Bloomberg
Statistics Canada says the country's merchandise trade surplus narrowed in February as imports rose at a faster pace than exports and some border crossings between Canada and the U.S. were blocked by protests.
Statistics Canada says the country's merchandise trade surplus narrowed in February as imports rose at a faster pace than exports and some border crossings between Canada and the U.S. were blocked by protests.
The agency says Canada's trade surplus edged down to $2.7 billion in February from a revised $3.1 billion the month before.
The lower surplus came as merchandise imports were up 3.9 per cent to $56.1 billion in February while exports rose a more modest 2.8 per cent to $58.7 billion.
Statistics Canada says the increase in imports followed a sharp 7.5 per cent decline in January, with gains posted in nine of 11 product sections.
The federal agency says imports of metal and non-metallic mineral products increased 14.3 per cent, potentially due in part to uncertainty about the future supply of metals from Russia.
Meanwhile, exports were up in eight of 11 product sections, with energy products rising 7.8 per cent to a record $15.4 billion in February.
