Wednesday, October 8, 2025

Latest

Canada Posts Trade Deficit of $1.1 Billion Amid Higher Imports

Following what were two consecutive months of trade surpluses, Canada’s merchandise trade balance has reverted back to a deficit status of $1.1 billion in March.

On Tuesday, Statistics Canada reported that Canada’s trade balance moved from a surplus of $1.4 billion in February to a deficit of $1.1 billion, as imports rose significantly amid higher consumer spending that coincides with the country’s strong economic recovery. Total imports jumped 5.5% to $51.8 billion in March— the highest since May 2019, as all product sections noted increases. Compared to year-ago levels when pandemic restrictions were first imposed, the value of imports has soared 6.3%.

Energy product imports soared by the most in March, rising by 54.7% after staying below pre-pandemic levels over the past year. Imports of refined petroleum products contributed the most to the monthly gain, up from $279 million in February to $726 million in March. Crude oil imports also noted a noticeable gain, rising by 19.4% to top $1 billion for the first time since September 2020.

Imports of motor vehicles and parts rose 4.6% in March, following a decline of 6.6% in the prior month. The February decline was largely the result of production setbacks at several American auto manufacturing plants amid the ongoing global semiconductor chip shortage. Albeit the shortages continued into the month of March, production slowdowns were no longer as pronounced, thus resulting in higher imports of motor vehicle engines and parts and passenger cars and light trucks.

In the meantime, Canada exported $50.6 billion worth of goods, as total exports edged up 0.3% and were 14.4% higher compared to March 2020. Exports of non-energy products jumped 2% to $41.2 billion— the third highest on record. Following a decline of 11.5% in February, exports of motor vehicles and parts were up 10.2% in March. Similarly, exports of metal ores and non-metallic minerals rose 33% in March, after declining 25% in the previous month. Conversely, exports of energy products dropped 6.7%, mainly due to lower natural gas exports.


Information for this briefing was found via Statistics Canada. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Federal Government Pledges $600 Million to Regional Relief Fund as Canada’s Economic Recovery Enters Standstill

As summer comes to an end and cold temperatures set in across much of Canada,...

Saturday, October 3, 2020, 03:56:00 PM

Canadian Home Prices Were up Nearly 30% in February

Canadian housing prices jumped by yet another record in February, as buyers took advantage of...

Wednesday, March 16, 2022, 04:27:00 PM

Canada’s Got Milk – So Much That It’s Being Dumped While Retail Prices Increase

As Canadians thrift their milk use amid rising prices, a dairy farm seems to just...

Thursday, February 2, 2023, 10:39:25 AM

Canadian Federal Government to Accelerate Financial Support for Municipalities

Prime Minister Justin Trudeau has announced the federal government will be accelerating the $2.2 billion...

Tuesday, June 2, 2020, 08:09:39 PM

International Student Cap Leads to Steeper-Than-Expected Enrollment Decline

Recent reports indicate that the Canadian government’s cap on international students has resulted in a...

Monday, September 9, 2024, 03:18:00 PM