Statistics Canada says the country's merchandise trade surplus fell to $422 million in February as exports fell more than imports.
The federal agency says the result compared with a revised surplus of $1.2 billion for January. The initial reading for the first month of the year put the surplus at $1.9 billion.
For February, total exports fell 2.4 per cent to $65.0 billion as exports of metal and non-metallic mineral products decreased 5.4 per cent and motor vehicles and parts dropped 4.4 per cent.
Meanwhile, total imports fell 1.3 per cent to $64.6 billion in February. The drop came as imports of industrial machinery, equipment and parts fell 8.7 per cent after hitting a record high in January.
Imports of motor vehicles and parts lost 5.3 per cent in February, while consumer goods rose 6.9 per cent to partly offset the overall drop.
In volume terms, total exports fell 0.9 per cent, while imports fell 0.8 per cent.
This report by The Canadian Press was first published April 5, 2023.
The Canadian Press