Investing.com – Canada’s trade balance was unexpectedly flat in February, official data showed on Tuesday.
In a report, Statistics Canada said that Canada’ trade balance was flat, after posting a surplus of CAD0.4 billion in January, whose figure was revised up from a surplus of CAD0.1 billion.
Analysts had expected Canada’s trade surplus to widen to CAD0.7 billion in February.
According to the data, imports and exports both declined in February, led by lower volumes of automotive products and energy products. Exports fell 4.9% to CAD35.9 billion while imports decreased 4.0% to CAD35.9 billion.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD climbing 0.14% to hit 0.9579.
In a report, Statistics Canada said that Canada’ trade balance was flat, after posting a surplus of CAD0.4 billion in January, whose figure was revised up from a surplus of CAD0.1 billion.
Analysts had expected Canada’s trade surplus to widen to CAD0.7 billion in February.
According to the data, imports and exports both declined in February, led by lower volumes of automotive products and energy products. Exports fell 4.9% to CAD35.9 billion while imports decreased 4.0% to CAD35.9 billion.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD climbing 0.14% to hit 0.9579.