OTTAWA – Canada posted a merchandise trade deficit of $506 million in March as exports to the U.S. fell with the implementation of new tariffs, but shipments to other countries climbed.
Statistics Canada says the result compared with a deficit of $1.4 billion in February.
Overall exports edged down 0.2 per cent to $69.9 billion in March as exports to the U.S. fell 6.6 per cent, but exports to countries other than the U.S. rose 24.8 per cent.
Imports fell 1.5 per cent to $70.4 billion as imports of metal and non-metallic mineral products dropped 15.8 per cent and energy products lost 18.8 per cent.
Canada’s merchandise trade surplus with the U.S. was $8.4 billion in March compared with $10.8 billion in February, while the country’s trade deficit with countries other than the U.S. was $9 billion in March compared with $12.2 billion in February.
In volume terms, total exports rose 1.8 per cent in March, while imports ticked down 0.1 per cent.
This report by The Canadian Press was first published May 6, 2025.
