Canadian international trade declines in March

OTTAWA, May 2 (Xinhua) -- Canada's merchandise exports declined 5.3 percent, while imports were down 1.2 percent in March, Statistic Canada said Thursday.

Exports of unwrought gold were the main contributor to the monthly variation in total exports, the national statistical agency said, adding that excluding the product group for unwrought gold, exports were down 3.2 percent in March.

According to the agency, following a 69.9 percent surge in February, exports of unwrought gold, silver, and platinum group metals and their alloys, a category largely composed of unwrought gold, contributed the most to the decline, falling 32.5 percent in March.

A large number of high-value shipments of unwrought gold to the United Kingdom and Switzerland were observed in February and this level of activity did not repeat in March. Despite the strong monthly decrease, March values were 14.7 percent higher compared with January values, and 39.4 percent higher on a year-over-year basis, the agency said.

Following an 11.3 percent increase in February, imports of electronic and electrical equipment and parts were down 8.1 percent in March. Imports of computers and computer peripherals contributed the most to the decline, as imports of high-value data processing units in February did not repeat in March, the agency said.

For the first quarter of 2024, imports were up 0.4 percent and exports fell 1.4 percent, Statistic Canada said.