Canada's Merchandise Trade Surplus Drops 15.7%

May 12, 2006
Canada's merchandise trade surplus narrowed sharply in March as imports rose at triple the rate of exports, Statistics Canada reported May 12, due primarily to two-way trade in aircraft and parts. Exports increased 1.1% to 38.3 billion Canadian dollars ...

Canada's merchandise trade surplus narrowed sharply in March as imports rose at triple the rate of exports, Statistics Canada reported May 12, due primarily to two-way trade in aircraft and parts.

Exports increased 1.1% to 38.3 billion Canadian dollars (US$34.7 billion) while imports were up 3.6% to 33.1 billion dollars ($30 billion), the government agency said.

As a result, Canada's trade surplus fell from 5.9 billion dollars ($5.3 billion) in February to 5.1 billion dollars ($4.6 billion) in March.

Strong demand for aircraft, engines and parts pushed up exports in March, the agency said, while increases in imports of crude petroleum, machinery and equipment, as well as consumer goods and automotive goods "returned imports to near-record levels." Exports of aircraft continued an upward trend started in early 2005 as increased military activities fuelled demand for Canadian planes and helicopters.

Meanwhile, exports to the U.S., Canada's biggest trading partner, remained flat in March, while Canadian companies imported 2.5% more from south of the border than they did in February. Thus Canada's trade surplus with the U.S. narrowed from 9.0 billion dollars ($8.2 billion) to 8.5 billion dollars ($7.7 billion).

Copyright Agence France-Presse, 2006

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!