Energy, autos pull Canadian exports higher but still below 2019 levels

Canada 457 Cons. Discr. - Autos 1057 Energy - Conventional 423 Trade Balance 905 U.S. 4995

Canada’s international trade activity climbed 10.1% higher year over year in March, including a 14.4% rise in exports. The latter included a 77.7% surge in energy shipments, reflecting low oil prices a year earlier. There was also a 5.1% increase in automotive exports, suggesting the industry’s shortage of semiconductors may still be working through the system. While exports were higher year over year they were down by 0.8% compared to 2019, lagging the 11.3% rise in exports across the Americas in March 2021 versus March 2019.

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