Canada's trade surplus falls to $422 million in February

Total exports at $65 billion, imports recorded as $64.6 billion

By Ovunc Kutlu

ISTANBUL (AA) - Canada's trade surplus fell to $422 million in February, from $1.2 billion in January, according to the country’s statistical body on Wednesday.

Total exports fell 2.4% to $65.0 billion after increasing 3.5% in January, Statistics Canada said in a statement.

"After reaching their highest level since May 2019, exports of motor vehicles and parts fell 4.4% to $7.9 billion in February 2023," it added.

Exports of aircraft saw the largest decline with 52.9%, mostly due to lower exports of private jets and commercial aircraft, according to the statistical body.

Total imports, meanwhile, declined 1.3% to $64.6 billion, following a 3.6% gain the previous month.

"Imports of industrial machinery, equipment and parts decreased 8.7% in February," the statement said.

While imports of consumer goods rose 6.9%, higher imports of pharmaceutical products were behind almost all of the increase, according to the agency.

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