Canada’s merchandise trade surplus edged higher in March as imports stayed flat and declines in automotive products and industrial goods and materials dampened export growth.

Statistics Canada reported the surplus rose up $80 million to $4.2 billion.

However, economists had expected the surplus to grow to $5 billion.

StatsCan said exports managed a marginal 0.2% increase to $35.8 billion, led by gains in energy products and machinery and equipment. Imports remained unchanged at just over $31.5 billion.

Both exports and imports of automotive products fell in March, as soaring gasoline prices apparently slowed consumer traffic in showrooms across North America.

Exports of automotive products fell 7.6% to $6.9 billion while imports of automotive products declined 4.0% to $6.1 billion. Both of these values were the lowest since January 2004, and export levels were the third lowest since August 1998.

The government agency said trade slipped on both fronts with the United States, while it rose slightly with the rest of the world. The trade surplus with the U.S. held steady at $8.1 billion, and the trade deficit with all other trading partners remained at $3.9 billion.

At the same time, the U.S. Commerce Department said the U.S. trade deficit fell sharply in March to the lowest level in six months as exports climbed to an all-time high.