Investing.com – Canada’s trade surplus widened more-than-expected in March, official data showed on Wednesday.
In a report, Statistics Canada said that Canada’ trade surplus widened to CAD0.6 billion, after posting a surplus of CAD0.4 billion in February, whose figure was upwardly revised from a flat trade balance.
Analysts had expected Canada’s trade surplus to widen to CAD0.5 billion in March.
Canada's exports and imports both rose in March, as most sectors recorded gains. Exports increased 3.5% to CAD37.4 billion, while imports grew 2.8% to CAD36.7 billion.
As a result, Canada's trade surplus increased from CAD356 million in February to CAD627 million in March.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD sliding 0.36% to hit 0.9533.
In a report, Statistics Canada said that Canada’ trade surplus widened to CAD0.6 billion, after posting a surplus of CAD0.4 billion in February, whose figure was upwardly revised from a flat trade balance.
Analysts had expected Canada’s trade surplus to widen to CAD0.5 billion in March.
Canada's exports and imports both rose in March, as most sectors recorded gains. Exports increased 3.5% to CAD37.4 billion, while imports grew 2.8% to CAD36.7 billion.
As a result, Canada's trade surplus increased from CAD356 million in February to CAD627 million in March.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD sliding 0.36% to hit 0.9533.