Canada's February trade deficit surges to a six-month high on gold imports | Metals Mine

  • Canada's February trade deficit surges to a six-month high on gold imports

    From kitco.com

    Canada's merchandise trade ​deficit came in much wider than expected in February, data showed on Thursday, as a surge in gold purchases abroad pushed imports to a record high. The percentage of Canada's exports that went to the U.S. dropped to its lowest level of just over 66%, from 68% a month ago and more than 79% a year ago when companies were front-loading goods ​due to looming U.S. tariffs. The trade deficit for February was at C$5.74 billion ($4.12 billion), following an upwardly ​revised C$4.18 billion in the prior month, Statistics Canada said. Analysts polled by Reuters had ⁠forecast a deficit of C$2.25 ... (full story)

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