Canada February international merchandise trade balance +1.04B vs +1.30B expected

Author: Adam Button | Category: News

Canadian trade balance data

Canada February international merchandise trade balance
  • First back-to-back monthly surpluses since late 2016
  • Prior was +$1.41B
  • imports fell 2.4% in Feb (lowest since August)
  • exports fell 2.7% in Feb
  • Exports hampered by a 10.2% decline in motor vehicles and parts in part due to chip shortage effects
  • Export declines were observed in the metal and non-metallic mineral products (-10.9%), motor vehicles and parts, and aircraft and other transportation equipment and parts product sections.
  • imports of energy products decreased by 21.4% in February after 22.8% increase in Jan
  • imports of aircraft and other transportation equipment and parts up +29.1% on four commercial airliner imports
  • Canada's trade deficit with countries other than the United States widened from $4.7 billion in January to $5.7 billion in February.
  • Canada's trade surplus with the United States widened from $5.9 billion in January to $6.8 billion in February. This was the largest surplus since September 2008.
The quickly improving trade picture with the United States highlights the knock-on effects of US growth and stimulus. There are also some one-off factors due to the elevated values of natural gas exports in February due to cold weather.


Invest in yourself. See our forex education hub.
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose