Supply Chain Research

Canada’s trade activity expanded by 2.5% on a year earlier in February, the 17th straight increase. That was led by a 4% growth in imports with the result that the trade deficit fell 58% on a year earlier. Crucially for this week’s NAFTA negotiations imports from the U.S. rose 6% and exports by just 1%. As a result the trade surplus vs. the U.S. fell 39% on a year earlier. The Canadian government’s preoccupation may turn to its export situation. Excluding energy, exports were unchanged on a year earlier following seven months of declines. While aerospace exports climbed 8% (and may go fu...