As imports and exports climb to record highs, Statistics Canada said the country’s merchandise trade surplus was $2.5 billion in March. The total compared to a revised surplus of $3.1 billion for February which is higher than the initial reading. The statistics agency said imports rose by 7.7 per cent in March to a record of $61.1 billion.
Imports of energy products increased by 26.3 per cent for the month. Crude oil and bitumen both rose in prices and volumes. The imports of consumer goods rose by 6.5 per cent, while motor vehicles and parts increased by 9.9 per cent.
Total exports rose by 6.3 per cent to a record $63.6 billion in March. Higher prices helped exports of energy products gained 12.8 per cent to a record $17.9 billion. The exports of motor vehicles and parts rose by 7,9 per cent.
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