According to Statistics Canada, Canada's exports rose 3.2 percent in March, led in part by higher exports of energy products. Imports increased 2.5 percent, mainly on higher imports of consumer goods. As a result, Canada's merchandise trade deficit with the world narrowed from $3.4 billion in February to $3.2 billion in March.
Total exports rose 3.2 percent to $49.0 billion in March, with increases in 9 of 11 product sections. Export volumes increased 2.6 percent, while prices were up 0.6 percent. The increase in nominal exports was led by energy products and motor vehicles and parts. After declining 4.2 percent in February, exports excluding energy products rose 2.1 percent in March.
Total imports rose 2.5 percent in March to $52.3 billion. Imports were up in 8 of 11 sections, with consumer goods posting the largest increase. Import volumes rose 1.3 percent, while prices were up 1.2 percent.
After decreasing 13.9 percent in February, exports to countries other than the United States rose 8.8 percent in March to $12.7 billion. Higher exports to the United Kingdom (gold), the Netherlands (aluminum and crude oil), Germany (aircraft and crude oil) and Saudi Arabia (other transportation equipment) were partially offset by lower exports to Hong Kong (gold).
After declining 6.7 percent in February, imports from countries other than the United States rose 8.0 percent in March to $19.5 billion. The increase was led by higher imports from China (computers and peripherals) and Mexico (cars and trucks).
As a result, Canada's trade deficit with countries other than the United States widened from $6.4 billion in February to a record $6.8 billion in March.
Exports to the United States were up 1.3 percent to $36.4 billion in March, mainly on higher exports of motor vehicles and crude oil. Imports from the United States edged down 0.4 percent, primarily on lower imports of aircraft. As a result, Canada's trade surplus with the United States widened from $3.0 billion in February to $3.6 billion in March. Comparing the average exchange rates of February and March, the Canadian dollar lost 0.9 US cents relative to the American dollar.