US EditionCanada’s February trade deficit surges to a six-month high on gold imports
Gold purchases and higher energy and auto imports pushed the shortfall wider, while exports rose 6.4% to C$66.31 billion, Statistics Canada said.
- Statistics Canada reported Thursday that Canada's merchandise trade deficit widened to C$5.74 billion in February as total imports surged 8.4% to a record C$72.1 billion, outpacing export growth.
- A 45.6% jump in metal and mineral product imports, driven by gold purchases from the United States by Canadian entities, propelled the record-high import levels that widened the trade shortfall.
- Total exports rose 6.4% to C$66.31 billion, yet analysts polled by Reuters had forecast a much smaller deficit of C$2.25 billion, making the actual C$5.74 billion shortfall significantly worse than expected.
- The trade surplus with the United States narrowed to C$1.7 billion from C$4.9 billion in January, while Canada's share of exports to the United States fell to just over 66% from over 79% a year ago.
- Exports to countries other than the United States reached a record C$22.3 billion, signaling a structural shift away from U.S.-dependent trade patterns that deepens Canada's economic diversification challenge.
13 Articles
13 Articles
The Globe & Mail
Canada’s February trade deficit surges to a six-month high on gold imports
Share of U.S. exports fell to 66%
Canada's Trade Deficit Widens Amid Soaring Gold Imports
Canada's Trade Deficit Widens Amid Soaring Gold Imports Canada's merchandise trade deficit expanded notably in February, as the nation recorded unprecedented levels of gold imports, pushing total imports to a historic C$72.1 billion, according to recent data. Despite a 6.4% increase in exports, they were unable to offset the surge in imports.This marks the first time that Canada's share of exports to the U.S. dropped to just over 66%, a signific…
Canada trade deficit widens to C$5.74 billion in February
Canada posted a C$5.74 billion trade deficit in February, as imports grew faster than exports, Statistics Canada said on Thursday. Exports were up by 6.4% on motor vehicles and parts, as well as... -April 02, 2026 at 08:33 am EDT MarketScreener
Winnipeg Free Press
Breaking News, Sports, Manitoba, Canada
Canada's February trade deficit surges to a six-month high on gold imports
Canada's merchandise trade deficit widened by a big margin in February, data showed on Thursday, as higher gold imports took the total imports to a record high, while exports could not match up even though it also rose sharply.
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