Canada registered another trade surplus in March, although below expectations: CAD 2.49 billion vs CAD 3.90 billion. Analysts at the National Bank of Canada highlight the trade surplus with the US reached a fresh record high.
Key Quotes:
\u201cFor the ninth time in the past ten months, Canada’s trade balance remained in positive territory, with both exports and imports reaching all-time highs. Total trade (exports + imports) in the motor vehicles\/parts category expanded the most in 5 months \u201cas automakers experienced a reprieve from supply chain issues that have been limiting output for a number of months.\u201d Despite this improvement, international exchanges in the auto sector remained 7.6% below their pre-pandemic level.\u201d
\u201cThe energy sector, meanwhile, benefited from higher prices and uncertainty surrounding global oil supply. Imports mustered a second consecutive gain, while exports jumped 12.8%, propelling Canada\u2019s energy trade surplus to a record level.\u201d
\u201cThe trade surplus with the United States moved from C$10.9 billion to C$12.6 billion, another record.\u201d
\u201cTurning to quarterly data, trade in goods likely weighed on GDP growth in the first quarter of the year, as real exports (-2.5%) contracted at a slightly faster pace than real imports (-1.0%). The increase in import volumes in the machinery equipment category (+3.8%), meanwhile, bodes well for investment spending in Q1.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Canada registered another trade surplus in March, although below expectations: CAD 2.49 billion vs CAD 3.90 billion. Analysts at the National Bank of Canada highlight the trade surplus with the US reached a fresh record high. Key Quotes:\u201cFor the ninth time in the past ten months, Canada’s trade balance remained in positive territory, with both …<\/p>\n","protected":false},"author":13,"featured_media":61332,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[7702,6863,9590],"class_list":["post-64804","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-canadian-economy","tag-covid-19-2","tag-trade-surplus"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/64804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=64804"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/64804\/revisions"}],"predecessor-version":[{"id":64809,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/64804\/revisions\/64809"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61332"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=64804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=64804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=64804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}