Canada Trade Deficit Widens in February


Canada's merchandise exports decreased 0.6% in February, while imports edged up 0.1%. As a result, Canada's trade deficit with the world widened from $746 million in January to $1.0 billion in February.

Exports decreased to $38.5 billion, as volumes were down 0.6% and prices were flat. Overall, exports of metal and non-metallic mineral products contributed the most to the decline. This was partially offset by an increase in motor vehicles and parts.

Imports edged up to $39.5 billion, as prices rose 0.6% and volumes declined 0.4%. Increases in 7 of the 11 import sections were mostly offset by a large decrease of energy products.
 
Exports to the United States decreased 1.1% to $28.4 billion in February, while imports were up 0.8% to $25.0 billion. Consequently, Canada's trade surplus with the United States decreased from $3.9 billion in January to $3.4 billion in February.
 
Exports to countries other than the United States increased 0.9% to $10.1 billion. Imports declined 0.9% to $14.5 billion. As a result, Canada's trade deficit with countries other than the United States narrowed from $4.6 billion in January to $4.4 billion in February.

Statistics Canada | Duarte Ricardo | duarte.ricardo@tradingeconomics.com
4/5/2013 1:44:12 PM