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Statistics Canada says trade deficit hit record $4.1 billion in March

Agency says the result compared with a trade deficit of $2.9 billion in February


May 3, 2018
The Canadian Press
The Canadian Press

OTTAWA—Statistics Canada says the trade deficit for March increased to a record $4.1 billion as imports also reached a record high.

The agency says the result compared with a trade deficit of $2.9 billion in February.

Canadian imports climbed six percent to $51.7 billion in March due to the motor vehicles and parts sector as well as consumer goods.

Meanwhile, exports increased 3.7 percent to $47.6 billion boosted by the aircraft and other transportation equipment and parts sector as well as farm, fishing and intermediate food products and energy products.

Exports excluding energy products rose 3.6 percent.

In volume terms, imports rose 5.3 percent and exports grew three percent.