Canada's trade surplus vanished in February, flipping to a $1.5bn deficit from a revised $3.1bn surplus in January. Exports plunged 5.5%, falling across the board by both product and to most countries. Interestingly, shipments to the U.S. were down "only" 3.6% retracing just a portion of the run-up over the prior three months, while there were double-digit declines to a number of European countries. On a sector basis, the biggest declines were in forestry, metals, and autos. Aerospace was the lone sector to see an increase. Imports climbed 0.8% amid mixed sector performance, with gains in autos and energy largely offset by declines in aerospace and consumer goods.