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rdf:type	schema:NewsArticle
schema:articleBody	Canada's trade deficit narrowed in February due largely to a strong rise in exports of private jets, the state statistics agency said Thursday, noting that the coronavirus pandemic had yet to be felt in a big way. Looking forward, it said production halts by North American automakers "could have a significant impact" on Canada's trade in March, while sharp drops in oil prices also would affect trade. "When looking at international merchandise trade as a whole, COVID-19 did not appear to have a major impact in February, though trade with China was once again affected," Statistics Canada said. The deficit contracted from Can$1.7 billion in January to Can$983 million ($691 million) in February, with an 0.5 percent rise in exports and a 0.8 percent fall in imports, notably crude oil, Statistics Canada said. Exports totalled Can$48.3 billion, including a 47 percent increase in aircraft deliveries -- the strongest showing in five years -- led by private jets, the agency said. In terms of volume, exports rose 2.7 percent. Auto exports rebounded in February after plunging in January, but oil exports declined. Canada is the world's fourth ranked exporter. Imports eased to Can$49.3 billion, the lowest level in two years, with a 1.2 percent drop in volume, mainly crude oil. Although it is one of the world's biggest oil producers, Canada nevertheless imports oil to supply its eastern regions that are far from its western production centers. Imports from China, South Korea, and Peru declined the most, while exports to Britain, Hong Kong and China were also down. Canada's trade surplus with the United States, its biggest trading partner, grew in February to Can$3.7 billion. With the rest of the world, Canada saw its deficit swell to Can$4.7 billion, its weakest performance since November 2018. jl/et/jm/bgs
schema:headline	Canada trade deficit narrowed in February
schema:mentions	Balance of trade South Korea Peru Hong Kong Canada Pandemic United States China Coronavirus disease 2019 Statistics Canada Price of oil
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-02 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	54 (xsd:integer)

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