FX.co ★ Canada Imports Surge to Record C$72.1 Billion in February

Canada’s imports jumped 8.4% month-on-month to a record C$72.1 billion in February 2026, with increases in all but one product category. Metal and non-metallic mineral products posted the strongest gains, rising 45.6%, as imports of unwrought gold, silver, and platinum group metals more than doubled on stronger demand from the United States.

Imports of motor vehicles and parts advanced 5.9%, led by a 7.5% increase in motor vehicle engines and parts, in line with a rebound in Canadian motor vehicle production. Energy products surged 20.1%, with crude oil and bitumen imports climbing 35.3% on higher shipments from the US, while refined petroleum products were up 31.0%.

As a result, Canada’s merchandise trade deficit widened to C$5.7 billion in February from C$4.2 billion in January, marking the largest shortfall since August 2025.