Despite keeping its borders open for goods shipments during the coronavirus pandemic, Canadian trade fell in March while its trade deficit widened to Can$1.4 billion (US$1 billion), according to da...
Despite keeping its borders open for goods shipments during the coronavirus pandemic, Canadian trade fell in March while its trade deficit widened to Can$1.4 billion , according to data released Tuesday.
But with a full month of physical distancing policies in place in April, trade values are expected to “decrease more severely” in that month, warned Statistics Canada. Automakers and several auto engine and parts suppliers in North America notably began to cease production or shifted production to medical masks and ventilators, with the introduction of physical distancing measures.Energy imports and exports were also down in the month, reflecting weaker global demand for oil, with the collapse in oil prices likely to be felt “more severely in future months,” it said.
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