Cnd export-imports slip after consecutive gains

OTTAWA – Lower volumes of automotive products and energy products caused Canada’s merchandise exports and imports to fall in February.

After four consecutive months of growth, exports fell 4.9 percent to $35.9 billion while imports decreased 4 percent to $35.8 billion, Stats Canada reports.

Although volumes declined in all sectors, energy products (-8.1%) and automotive products (-12.4%) were the main contributors.

As was the case with exports, falling volumes of automotive products (-12.4%) and energy products (-12.7%) accounted for most of the decline.

Imports from the U.S. specifically fell 6.1 percent, while exports dipped 3.5 percent.

Exports to countries other than the U.S. fell 8.5 percent, mostly a result of lower exports of precious metals to the European Union.

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