Statistics Canada released figures Thursday morning showing that Canadian exports surged to a record $47 billion in March, but the country still posted a $135-million trade deficit for the month as imports also rose.
The nation's number-crunchers revealed that exports increased 3.8% in March, more than twice the 1.7% growth in imports.
The data agency further reported that energy products and consumer goods were responsible for much of the increase in exports. Experts noted that only two export sectors shrank: raw metals and minerals, which slumped 1.9%, and the auto sector, off 1.8%.
Compared to the same month last year, exports are now almost 13% higher.
Most of the surge in exports is going to countries other than the United States, a sign that Canada's economy is diversifying. Exports to countries other than the U.S. rose 15.3% in March to a record-high $12.6 billion.
The biggest increases came from China, India and South Korea.
