Canadian int'l trade reaches record high in March

OTTAWA, May 4 (Xinhua) -- Canada's merchandise trade increased substantially in March with both imports and exports reaching record highs, Statistics Canada said on Wednesday.

Following a 4.8 percent increase in February, imports jumped a further 7.7 percent to a record high of 61.1 billion Canadian dollars (48.9 billion U.S. dollars) in March. Meanwhile, exports rose 6.3 percent to 63.6 billion Canadian dollars (50.9 billion U.S. dollars), with energy products contributing more than half of the increase, said the national statistical office.

According to the agency, trade surplus with the United States reached an all-time high with exports to the United States up by 7.7 percent in March, largely because of higher exports of crude oil. Meanwhile, imports from the United States increased by 5.4 percent, mainly because of higher imports of energy products and motor vehicles and parts. As a result, Canada's trade surplus with the United States widened from 10.9 billion Canadian dollars (8.7 billion U.S. dollars) in February to a record 12.6 billion Canadian dollars (10.1 billion U.S. dollars) in March.

Imports from countries other than the United States were up 11.5 percent in March, reaching a record 24.5 billion Canadian dollars (19.6 billion U.S. dollars). Imports from China rose sharply for a second consecutive month, posting an increase of 29.4 percent, the largest gain by far. Computers and cellphones, industrial machinery, and consumer goods topped widespread increases in imports from this country.

Exports to countries other than the United States were up 1.9 percent in March to 14.4 billion Canadian dollars (11.5 billion U.S. dollars), which also constituted a record.

In March, monthly service exports rose 2.9 percent to 11.9 billion Canadian dollars (9.5 billion U.S. dollars). Service imports increased 6.5 percent to 12.9 billion Canadian dollars (10.3 billion U.S. dollars). When international trade in goods and international trade in services were combined, exports increased 5.8 percent to 75.5 billion Canadian dollars (60.4 billion U.S. dollars) in March, while imports were up 7.5 percent to 74.0 billion Canadian dollars (59.2 billion U.S. dollars), Statistics Canada said.