Canada's trade surplus plummets

Canada's international trade surplus nosedived from $1.9 billion in January to $292 million in February, Statistics Canada reported from Ottawa Wednesday. On a month-over-month basis, exports declined 3.9 percent to $39.6 billion, while imports rose 0.2 percent to $39.3 billion, the agency said. "After posting several monthly increases, exports of energy products and automotive products were the main contributors to the overall decline," StatsCan said. "The gain in imports of energy products was partially offset by a decline in automotive products." The agency reports separately on trade with the United States, Canada's largest trading partner, and all other countries. Exports to the United States decreased 3.8 percent to $29.3 billion, while imports from south of the border edged up 0.4 percent to $24.5 billion. "Consequently, Canada's trade surplus with the United States decreased from $6.1 billion in January to $4.8 billion in February," the report said. Canada's trade deficit with countries other than the United States increased from $4.1 billion in January to $4.5 billion in February. That was based on a 4 percent decline in exports to $10.3 billion and a 0.2 percent dip in imports to $14.9 billion, the agency said.