Statistics Canada says the merchandise trade deficit in March was $2.3 billion

Statistics Canada said the country ran a merchandise trade deficit of $2.3 billion in March, the largest deficit since June 2023. This happened after registering a trade surplus of 476 million dollars in February. The total export faced a decrease of 5.3%, among which, the export of gold has had a significant drop after a significant increase in February. Also, exports of metallic and non-metallic mineral products faced a decrease of 17.4%. Imports also faced a decrease of 1.2%, among which, the import of electronic and electrical equipment decreased by 8.1%. In volume comparison, total exports decreased by 4.7% and imports decreased by 1.2%. These data indicate a challenging business environment for Canada in March 2024.


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