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Canada swings to trade surplus in March as crude prices, gold exports jump
Statistics Canada said exports rose 8.5% to C$72.8 billion as higher crude oil prices and gold demand lifted shipments.
- Statistics Canada reported a C$1.78 billion trade surplus in March, reversing a C$5.11 billion deficit in February and marking the first surplus in six months.
- Higher crude oil prices and surging gold demand fueled the shift, driving Total exports up 8.5% to C$72.8 billion. Energy exports climbed 15.6%, while metal and non-metallic products surged 24% to record highs.
- Exports to the United States climbed 8.3% to C$48.51 billion, the highest in a year, while Imports from the United States fell 1.2% to C$41.44 billion. The bilateral trade surplus reached C$7.1 billion.
- The Canadian dollar rose 0.03% to 1.3620 following the trade data. Money markets are pricing in two 25 basis-point rate cuts by year-end in response.
- Exports from Canada to non-United States countries rose 9.1% while Imports from those nations fell 2.2%, signaling trade diversification. The United States now accounts for 66.7% of exports, its lowest share ever.
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26 Articles
Canada recorded a trade surplus of US$1.3 billion in March, the first since September 2025, driven by the sharp rise in oil prices as a result of the war in Iran, the public agency Statistics Canada (EC) reported this Tuesday.The value of Canadian merchandise exports increased by 8.5 percent in March, to the top 72 billion Canadian dollars, the highest level since January 2025, while imports fell by 1.6 percent, to 71 billion Canadian dollars, h…
·Mexico
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This surplus is due to an 8.5% increase in total exports, which reached $72.8 billion.
·Montreal, Canada
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Canada recorded a trade surplus of $1.8 billion in March, for the first time since September, according to Statistics Canada.
·Montreal, Canada
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Coverage Details
Total News Sources26
Leaning Left8Leaning Right2Center8Last UpdatedBias Distribution45% Left, 44% Center
Bias Distribution
- 45% of the sources lean Left, 44% of the sources are Center
45% Left
L 45%
C 44%
11%
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