International trade drops

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OTTAWA, Ont. – International trade dipped in February with both export and import levels dropping.

After four consecutive monthly increases, exports decreased by 2.6 per cent to $32.3 billion in February, reports Statistics Canada. The main factors contributing to the decline were considerable decreases in exports of passenger cars and forestry products. Despite the drop, however, the level of exports this February was still 12.9 per cent higher than at the same time a year ago.

Imports dropped by 1.2 per cent to $28.3 billion. It was the second straight monthly decline after a rise of 3.2 per cent in December. Lower imports of auto parts, compressors and telecommunications equipment accounted for most of the decline, according to Statistics Canada. n

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