- Prior was +0.42B (revised to -0.49B)
- Exports $63.56B vs $64.00B prior
- Imports $62.59B vs $64.48B prior
- Energy exports decreased 5.9%
- Exports of aircraft and other transportation equipment and parts rose 30.8% in March
- Surplus with the US +7.6B vs +8.3B prior
The trade surplus is a bit better but that's overshadowed by a larger negative revision to the prior. Overall these are close enough to the consensus not to be meaningful for the loonie . What's worrisome is the overall slide in trade, which is often a precursor to a slowdown.
Given where oil prices are, expect to see growing Canadian trade deficits in the months ahead.