Canada posts trade surplus for second consecutive month in February
Posted Apr 7, 2021 6:52 am.
Last Updated Apr 7, 2021 7:22 am.
OTTAWA — Statistics Canada says the country posted a merchandise trade surplus for a second consecutive month in February, the first time that’s happened since late 2016.
The agency says the trade surplus for the month was $1 billion, down from a revised surplus of $1.2 billion in January.
The result came as total exports fell 2.7 per cent to $49.9 billion in February, after climbing 8.2 per cent in January.
Positive headline, weak fundamentals.
Canada February trade surplus at $1.04 billion
Exports down 2.7%
Imports down 2.4%
Source: Stats Canada— Mike Eppel (@eppman) April 7, 2021
The decrease came as exports of metal and non-metallic mineral products, motor vehicles and parts, and aircraft and other transportation equipment and parts fell.
On the other side of the equation, total imports dropped 2.4 per cent in February to $48.8 billion, their lowest level since August 2020.
In real or volume terms, total exports fell 3.8 per cent, while imports dropped 3.5 per cent.
This report by The Canadian Press was first published April 7, 2021.
The Canadian Press