Biggest gain in machinery and equipment imports in a decade
All import sectors rebounded in February and nearly half of the total increase resulted from the best month since August 1993 for machinery and equipment imports.
Aircraft and parts, industrial machinery, televisions and other electronic equipment all contributed to the surge, Statistics Canada trade data for the month indicate, and only a small decline in office machinery imports stood in the way of widespread growth within the sector.
Imports of excavating machinery have set record highs for the last two months.
Similar to the export pattern, imports of industrial goods and materials resumed their upward trend in February with a 17.3% rebound in metals and metal ores. This followed January’s setback, which was partly the result of labour disruptions.
A 4.3% rise in motor vehicle parts lifted imports of automotive products by a quarter of a billion dollars. Cars, trucks and other motor vehicles also contributed to the rise in February.
Higher imports of motor gasoline, diesel and aviation fuels pushed petroleum and coal products up 22.3%, topping $300 million for the month. Crude petroleum imports grew 4.0% in February, split evenly by volume and price hikes.
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