Canada Trade Deficit Widens as Gold Drives Record Imports (2)

Canada’s trade deficit widened to C$5.7 billion ($4.1 billion) in February − the largest shortfall since August − as imports reached a record high on increased gold purchases.

The country’s trade activity rose significantly as imports and exports grew by 8.4% and 6.4% respectively, Statistics Canada reported on Thursday. In volume terms, total imports rose 7.1% while total exports increased 4.8%.

The federal agency also revised its January trade data, which now suggests a larger trade deficit of C$4.2 billion that month.

Economists in a Bloomberg survey had expected a trade shortfall of C$2.5 billion in February. The C$5.7 ...