Canada's Trade Deficit Narrows in March

In a recent report by Statistics Canada, it was revealed that the country's goods and services trade deficit has seen a notable improvement. The deficit stood at 942 million Canadian dollars (approximately $682 million) in March, a significant decrease from the 2.1 billion Canadian dollars recorded in February.

Exports and Imports See a Decline

Exports of goods and services experienced a slight decline of 0.1%, totaling 87.6 billion Canadian dollars. On the other hand, imports saw a more substantial decrease of 1.3%, amounting to 88.5 billion Canadian dollars.

Goods Trade Deficit Improves

The goods trade deficit showed improvement, moving from 1.4 billion Canadian dollars in February to 506 million Canadian dollars in March. This change was accompanied by a 0.2% decrease in exports and a 1.5% fall in imports. Notably, exports to the United States dropped by 6.6%, and imports to the US decreased by 2.9%, following the introduction of new tariffs in March.