OTTAWA, Ont. — Carriers concerned about lacklustre shipment volumes to and from the U.S. in recent months are breathing a sigh of relief upon the release of the trade figures for March.
Exports to the United States rose 0.9% to $28.1 billion, their highest level since March last year, while imports from south of the border were up 1.2%, according to data released this morning by Statistics Canada.
Overall, Canadian companies exported nearly $34.9 billion worth of merchandise outside the country, up 1.7%. On the other hand, imports rose only 0.9% to nearly $28.7 billion, the highest level in a year.
As a result, the surplus surpassed $6.2 billion, its highest level since May 2001.
March’s gain in exports followed a 7.5% rebound in February, marking the first back-to-back monthly increases since January 2003. This rise was led by automotive trade, which showed some consistency in March, dampening some recent trade volatility.
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