Canadian international merchandise trade, March 2023

May 4, 2023

In March, Canada's merchandise imports decreased 2.9%, while exports were down 0.7%. As a result, Canada's merchandise trade balance with the world moved from a revised $487 million deficit in February to a $972 million surplus in March.

Total imports decreased 2.9% in March to $62.6 billion, the lowest level observed since March 2022. In real (or volume) terms, imports fell 5.3% in March 2023.

Total exports decreased 0.7% in March to $63.6 billion, the lowest level since February 2022. In real (or volume) terms, exports edged up 0.1% in March 2023.

Total exports were down 0.3% in the first quarter of 2023, mainly because of lower prices. Meanwhile, quarterly imports edged down 0.2%. However, in real terms (calculated using chained 2012 dollars), quarterly exports increased 3.5%, while imports decreased 0.4%.

This is an excerpt from the 04 May 2023 edition of The Daily from Statistics Canada.

Topic(s)

International Trade and Border Management

Information source

Statistics Canada

Disclaimer

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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