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rdf:type	schema:NewsArticle
schema:articleBody	Canada posted a surprise Can$1.1 billion (US$0.9 billion) trade deficit in March following back-to-back surpluses, as a rise in imports outpaced an uptick in exports, the government statistical agency said Tuesday. Analysts were expecting another large surplus after a Can$1.4 billion surplus the previous month. "Not much market reaction to the data," CIBC senior economist Royce Mendes said in a research note. "That said, the trade surplus had been one factor supporting the loonie early this year, and the move back into deficit means that aid disappeared in March," he said, using a colloquial term for the Canadian dollar. Total imports rose 5.5 percent in March to Can$51.8 billion, with all product categories posting gains, according to Statistics Canada. Higher imports of gasoline and crude oil led the increase. Motor vehicles and parts imports were also up, following production slowdowns and stoppages at several North American assembly plants in February blamed on a global shortage of semiconductor chips. The scarcity of chips continued into March, but the impact was less significant. It is expected to be a drag on car manufacturing in April too, Statistics Canada warned. Despite these chip woes, more passenger cars and trucks assembled in Canada were shipped abroad in March, helping to push total exports up 0.3 percent to Can$50.6 billion. Iron ore exports bounced back from a drop the previous month, but exports of natural gas -- following a jump in prices in February caused by extreme weather and power outages in the southern United States -- fell, alongside a drop in aircraft exports. After posting in January and February the two largest surpluses with the United States since 2008, the surplus with Canada's neighbor and largest trading partner narrowed from Can$7.3 billion in February to Can$4.3 billion in March. Exports to countries other than the United States, meanwhile, increased the most in four years. Imports from China also increased sharply, led by electronics, furniture and appliances. amc/st
schema:headline	Canada streak of trade surpluses ends abruptly in March
schema:mentions	Semiconductor Natural gas Balance of trade Canada United States China Canadian dollar Canadian Imperial Bank of Commerce Statistics Canada American Motors Corporation Drag coefficient Iron ore Price of oil Economy
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-05-04 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	60 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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