Statistics Canada announced that, supported by surging gold and crude oil exports, Canadas merchandise exports rose 8.5% MoM in March to CAD72.77 billion, the highest level since January last year; the previous reading showed a 6.8% increase. Among them, energy product exports climbed 15.6% MoM to CAD17.1 billion, the highest since September 2022. The conflict involving Iran since late February drove a sharp rise in international oil prices, leading to an 18.9% surge in crude oil exports in March. Exports of metal and non-metallic mineral products increased 24% to a record CAD15.3 billion.After hitting a record high in February, Canadas merchandise imports edged down 1.6% MoM in March to CAD70.99 billion.Related News CMBI Cuts Coinbase Global, Inc. (COIN.US) TP to USD235, Reiterates Buy; Lowers Revenue ForecastsCanada recorded a merchandise trade surplus of CAD1.78 billion in March, the first surplus since September last year and better than market expectations for a deficit of CAD2.4 billion. The previous deficit was revised to CAD5.11 billion. (da/w)
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