FX & CFD trading involves significant risk
Statistics Canada released the trade data on Tuesday. Canada's trade deficit widened to C$1.91 billion in February from a deficit of C$0.63 billion in January. January's figure was revised up from a deficit of C$0.66 billion.
Analysts had expected a trade deficit of C$0.9 billion.
The rise in deficit was driven by a drop in exports. Exports slid 5.4% in February.
Exports of consumer goods plunged 14.3% in February, exports of energy products dropped by 14.4%, while exports of motor vehicles and parts were down 4.4%.
Imports fell 2.6% in February.
Imports of energy products slid by 29.7% in February, imports of motor vehicles and parts decreased by 2.7%, while imports of metal and non-metallic mineral products fell 4.8%.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.