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Trade surplus shrinks

Published by Steve Coleman on April 12, 2012

Canada's trade surplus narrowed to $292 million in February as the country sold fewer automobiles and less energy.

The country's big-two exports for the last few months led the charge to lower numbers during the month.
After three-straight months of increases, energy exports slipped 6.9 per cent to $10.7 billion. Both prices and volumes were down. Crude oil exports were down 6.4 per cent.

Coal and other bitumen-related products recorded the sector's only gain, a 24.7 per cent increase over the previous month's numbers.

After five-straight months of good news, the auto industry took a bit of a hit as well in February. Automotive product sales slipped 11.9 per cent to $5.4 billion. Volumes were down 11.7 per cent.

Exports of passenger vehicles and chassis, fell 18 percentage points and turned out to be the only contributor to the industry's lower numbers.

Total Canadian exports for the month slipped 3.5 per cent in February to $39.6 billion.
Imports increased to $39.3 billion as prices surged one percentage point.

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