Canadian international merchandise trade, March 2020

May 7, 2020

In March, despite Canadian borders remaining open for goods, both imports and exports decreased notably, as the impact of measures to contain the spread of COVID-19 in Canada became evident. With a full month of physical distancing policies in place in April, merchandise trade values are expected to decrease more severely next month.

Canada's merchandise exports fell 4.7% to $46.3 billion in March, the lowest level since January 2018. Total imports declined 3.5% to $47.7 billion, a level not observed since October 2017. Both exports and imports were down almost 10% on a year-over-year basis. Canada's trade deficit widened from $894 million in February to $1.4 billion in March.

In real (or volumes) terms, March exports decreased 4.8% and imports were down 5.8%...

This has been excerpted from a 5 May 2020 release by Statistics Canada.

Topic(s)

International Trade and Border Management

Information source

Other Government Departments (OGDs)

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The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.

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