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Canada's trade deficit widens more than expected in February

Investing.com -

Investing.com - Canada's trade deficit widened more than expected in February, as exports declined 5.4% while imports fell 2.6%, official data showed on Tuesday.

In a report, Statistics Canada said that Canada's trade deficit was C$1.91 billion in February, compared to a deficit of C$0.63 billion in January, whose figure was revised from a previously reported deficit of C$0.66 billion.

Analysts had expected Canada to post a trade deficit of C$0.90 billion in September.

Total exports fell 5.4% to C$43.7 billion in February, after reaching a record high in January. Consumer goods and energy products lead the decline.

On the other side of the ledger, total imports decreased 2.6% to C$45.6 billion in February in a widespread decline. There were lower imports in 9 of 11 sections, led by energy products. However, year over year, total imports increased 2.3%.

USD/CAD was trading at 1.3204 from around 1.3172 ahead of the release of the data.

The U.S. trade deficit was published at the same time.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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