Canada: Trade flows plunge in March – BMO

Canadian trade flows plunged lower in March as both goods exports (-4.7%) and imports (-3.5%) fell sharply already in March, per the Bank of Montreal. USD/CAD is trading at 1.4018.

Key quotes

“Canada's merchandise trade deficit widened to $1.4 bln in March from an upwardly revised $0.9 bln shortfall in the prior month.”

“Exports fell 4.7% in the month, with a steep 25% drop in aerospace and 14.4% slide in autos amid production shutdowns while imports slipped 3.5%, also reporting big declines in aerospace (-17%) and autos (-13%).”