OTTAWA — Canada posted a merchandise trade deficit of $2.3 billion in March, its largest deficit since June last year, Statistics Canada said Thursday.
The result followed a surplus of $476 million in February, which was revised down from an initial reading released last month that indicated a surplus of $1.4 billion for the month.
Statistics Canada said total exports fell 5.3 per cent in March to $62.6 billion as exports of unwrought gold, which surged to a record high in February, came back down. Energy product exports also fell 4.9 per cent, due in part to lower exports of crude oil and bitumen, coinciding with unplanned shutdowns at refineries in the U.S. Midwest.
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