FLCA - Canada February trade balance C$0.42B versus C$1.80B estimate

2023-04-05 09:39:13 ET

Canada posted a trade surplus of C$420M in February of 2023, narrowing sharply from the downwardly revised surplus of C$1.2B in the previous month.

The amount is below market expectations of a C$1.8B positive balance.

Total exports fell by 2.4% to C$65B in the period, pressured by a drop in sales of metal and non-metallic mineral products (-5.4% to C$7.04B) due to the sharp decline in gold prices during the period.

Exports also fell for motor vehicles and parts (-4.4% to C$7.9B), easing from the near four-year high in the previous month.

Meanwhile, imports fell by a slower 1.3% to C$64.6B, with a notable decline in purchases of industrial machinery, equipment, and parts (-8.7% to C$7.51B), as the period saw lower imports of parts for a new LNG terminal project in British Columbia.

Imports also fell for motor vehicles and parts (-5.3% to C$ 10.34B.)

ETFs:( EWC ), ( HEWC ), ( FLCA ).

For further details see: