Canada Posts $1.8B Trade Surplus in March

OTTAWA Canada recorded a merchandise trade surplus of 1.8 billion dollars in March, its first since September and well above forecasts of a 2.9 billion dollar deficit, Statistics Canada reported.

The swing from February's 5.1 billion dollar deficit stemmed from exports climbing 8.5 percent to 72.8 billion dollars, the second-highest level on record and the highest since January 2025. Energy products led the gains, rising 15.6 percent year-over-year to 17.1 billion dollars, their highest since late 2022. The increase reflected a nearly 20 percent jump in crude oil prices linked to the war in Iran. Exports of metallic and non-metallic mineral products also hit a record 15.3 billion dollars, up 24 percent from a year earlier, driven by a 37.7 percent surge in unwrought gold, silver and platinum group metals. The United Kingdom emerged as a key destination for these shipments. Passenger cars and light trucks added to the momentum, with exports increasing 4.5 percent.

Imports fell 1.6 percent to 71.0 billion dollars, easing pressure on the balance. Consumer goods dropped 3.9 percent to 13.3 billion dollars, including a 9.3 percent decline in pharmaceuticals, while aircraft and other...