OTTAWA – The latest trade data shows a much smaller than expected surplus for Canada in March.
Statistics Canada says that the surplus came in at $79 million, much smaller than the $450 million that economists had expected and down sharply from the surplus of $847 million racked up in February. At the same time, the February trade surplus was revised upward from $290 million.
Exports declined 1.4 per cent to $42.7 billion, with prices down two per cent and volumes up 0.7 per cent.
Energy products were the main contributor to the overall decline in exports.
The agency says that exports of energy products fell 7.9 per cent to $11.2 billion in March, following three consecutive months of significant increases.
Statistics Canada added that imports edged up to $42.6 billion.