prior month -$5.11B revised from -$5.74B
Details:
Canada swung to a trade surplus of $1.8B in March (from a $5.1B deficit in February) — first surplus since Sept 2025
Exports surged +8.5% to $72.8B, driven by gold and crude oil (price-driven gains; volumes slightly lower)
Imports fell -1.6%, led by declines in consumer goods and aircraft
Trade surplus with the U.S. widened to $7.1B on higher exports and lower imports
Exports to non-U.S. countries hit a record, while the deficit with those countries narrowed
Quarterly picture weaker: Q1 trade deficit widened to $6.5B, with imports outpacing exports
Goods + services combined: total trade shifted to a $1.7B surplus in March
Bottom line:
Strong commodity-driven exports and softer imports flipped Canada into a surplus in March, but the broader quarterly trend still shows a widening deficit.
This article was written by Greg Michalowski at investinglive.com.