Canada's exports fell 4.8% to $41.0 billion in March. Export volumes were down 2.9% and prices fell 2.0%. Imports declined 2.4% to $44.4 billion, as prices were down 2.1% and volumes fell 0.3%. As a result, Canada's merchandise trade deficit with the world widened from $2.5 billion in February to a record $3.4 billion in March.

Trade with the United States declines

Exports to the United States fell 6.3% to $30.4 billion in March and imports were down 4.8% to $28.9 billion. Consequently, Canada's trade surplus with the United States narrowed from $2.1 billion in February to $1.5 billion in March, the lowest surplus since December 1993.

Imports from countries other than the United States increased 2.2% to $15.5 billion. Higher imports from countries other than Canada's principal trading partners as well as from South Korea and Algeria were offset by lower imports from China. Exports to countries other than the United States edged down 0.2% to $10.6 billion. Lower exports to countries other than Canada's principal trading partners as well as to China were mostly offset by higher exports to the United Kingdom. As a result, Canada's trade deficit with countries other than the United States widened from $4.6 billion in February to $4.9 billion in March.

This has been excerpted from a 4 May 2016 release by Statistics Canada and is available in its entirety at: http://www.statcan.gc.ca/daily-quotidien/160504/dq160504a-eng.htm?HPA