Canada Posts $972m Trade Deficit

Canada’s trade balance changed direction in February, as the economy posted a trade deficit of $972 million after three straight monthly surpluses, CBC News reported. Statistics Canada reported Tuesday that imports only increased by a little bit, 0.6% to be precise. But the balance flipped to a sizable deficit because exports plunged, as 8 out of 11 subsectors tracked by the data agency were lower. All in all, exports were down by 2.4% to $45.3 billion from January’s record high level. Just about everything was lower, including farm, fishing and intermediate food products, aircraft and other transportation equipment and parts, as well as consumer goods.