Canada Swings to Goods-Trade Deficit as Exports Drop

By Robb M. Stewart

OTTAWA--Canada swung to the biggest merchandise-trade deficit with the rest of the world in nine months in March with a pullback in exports as shipments of metals retreated.

The country posted a goods-trade deficit for the month of 2.28 billion Canadian dollars, the equivalent of about $1.66 billion, Statistics Canada said Thursday. The result sharply undershot the C$1.2 billion surplus the market was expecting, according to economists at TD Securities, and comes after February's surplus was revised down to C$476 million.

Exports were down 5.3% to C$62.56 billion in the latest month, while imports fell 1.2% to C$64.84 billion, the data agency said.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

05-02-24 0902ET