Current account deficit down $500M in Q1: StatsCan
Agency says change largely reflected lower deficits on trade in goods, services
OTTAWA—Statistics Canada says the country’s current account deficit on a seasonally adjusted basis shrank by $500-million to $14.1-billion in the first quarter.
The agency says the change largely reflected lower deficits on trade in goods and services.
It says the deficit on trade in goods declined by $400-million in the quarter to $1.7-billion as both exports and imports strengthened, with exports recording a larger increase.
The goods surplus with the United States remained at $11.2-billion, reflecting corresponding increases in both exports and imports.
The deficit on trade in services was reduced by $200-million to $5.8-billion, with lower payments on trade in commercial services and higher receipts on transportation services accounting for most of the changes.
The travel deficit remained at $4.3-billion.