Rolls of coiled coated steel are shown at Stelco in Hamilton, Ont. on June 29, 2018. THE CANADIAN PRESS/Peter Power

Rolls of coiled coated steel are shown at Stelco in Hamilton, Ont. on June 29, 2018. THE CANADIAN PRESS/Peter Power

Canada posts trade surplus for second consecutive month in February

Total imports dropped 2.4 per cent in February to $48.8 billion

OTTAWA — Statistics Canada says the country posted a merchandise trade surplus for a second consecutive month in February, the first time that’s happened since late 2016.

The agency says the trade surplus for the month was $1 billion, down from a revised surplus of $1.2 billion in January.

The result came as total exports fell 2.7 per cent to $49.9 billion in February, after climbing 8.2 per cent in January.

The decrease came as exports of metal and non-metallic mineral products, motor vehicles and parts, and aircraft and other transportation equipment and parts fell.

On the other side of the equation, total imports dropped 2.4 per cent in February to $48.8 billion, their lowest level since August 2020.

In real or volume terms, total exports fell 3.8 per cent, while imports dropped 3.5 per cent.

This report by The Canadian Press was first published April 7, 2021.

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