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5 May 2015
Canada Trade deficit widened to record CAD 3 billion in March
FXStreet (Mumbai) - The Canada trade deficit in March widened to a record high as the value of energy exports fell while the imports rose, with consumer goods imports rising sharply.
The trade deficit in March rose to CAD 3 billion, compared to the estimate of CAD 0.8 billion. As per the data released by Statistics Canada, Energy exports fell by 8.9% to CAD 6.89 billion in March, including a 29.7% drop in refined petroleum products to CAD 855 million. On an annualized basis, energy exports were down 43.7%.
Meanwhile, imports rose 2.2% to a record CAD 45.5 billion, mainly on account of a 7.9% jump in consumer goods imports. The previous month’s trade deficit was revised to CAD 2.22 billion from CAD 984 million on updated energy figures.
The trade deficit in March rose to CAD 3 billion, compared to the estimate of CAD 0.8 billion. As per the data released by Statistics Canada, Energy exports fell by 8.9% to CAD 6.89 billion in March, including a 29.7% drop in refined petroleum products to CAD 855 million. On an annualized basis, energy exports were down 43.7%.
Meanwhile, imports rose 2.2% to a record CAD 45.5 billion, mainly on account of a 7.9% jump in consumer goods imports. The previous month’s trade deficit was revised to CAD 2.22 billion from CAD 984 million on updated energy figures.