- Prior was +$1.38 billion
- Exports 62.56B vs 66.10B prior
- Imports 64.84B vs 65.62B prior
Canada's merchandise exports declined 5.3%, while imports were down 1.2%, leading to the largest trade deficit since June 2023. The variation appears to be due to large, lumpy gold exports in February that were unwound in March. Refinery turnarounds also led to lower exports of oil while exports of autos decreased 8% to the lowest level since Dec 2022.
