Canada posted a trade surplus of C$1.8 billion in March 2026 compared to the downwardly revised C$5.1 billion in February and better than the expected C$2.9 billion shortfall. This marked the first trade surplus since September 2025 and the largest since January that year. Exports climbed 8.5% to an over one-year high of C$72.8 billion, boosted by a 24% surge in shipments of metal and non-metallic mineral products and a 15.6% rise in energy products, with crude oil exports jumping 18.9% on higher prices. Conversely, imports fell 1.6% to C$71 billion, following February's record high, with declines observed in 8 of the 11 product sections. Purchases of aircraft and transport equipment dropped 12.8%, while consumer goods fell 3.9%, led by pharmaceuticals (-9.3%), clothing and footwear (-4.2%), food products (-4.1%), and meat (-9.3%). The trade surplus with the United States widened to $7.1 billion in March, its highest level since September 2025, from $2.9 billion observed in February.