May 02, 2024 12:53 GMT
Canada March Trade Balance Surprises With Deficit Of -CAD2.3B
CANADA DATA
- Trade balance was expected to be +CAD0.9B, the deficit is the largest since June 2023.
- Feb trade balance revised down to +CAD0.5B from +CAD1.4B
- Exports -5.3% MOM and -4.7% in volume as gold exports fell after reaching record highs last month. Imports -1.2% vs +5.2% in Feb.
- Exports -1.5% YOY; imports +3%.
- Q1 imports +0.4% while exports -1.4%.
- US surplus narrowed to +CAD6.5B from +CAD8.5B as exports to the US -5% in March.
- Weakness in trade comes after a flat flash estimate for March GDP.
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