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UPDATE 1-Canada Q2 current account deficit narrows to C$17.40 billion

Published 2015-08-31, 08:34 a/m
UPDATE 1-Canada Q2 current account deficit narrows to C$17.40 billion

(Adds data, background)
OTTAWA, Aug 31 (Reuters) - Canada's current account deficit
narrowed slightly in the second quarter of 2015 to C$17.40
billion ($13.18 billion) on more favorable trade in goods and
services, Statistics Canada said on Monday.
The deficit was greater than the C$16.90 billion shortfall
predicted by analysts. Statscan revised the first quarter
deficit up to C$18.15 billion - the second highest on record -
from an initial C$17.47 billion.
A strong gain in exports in June helped trim the trade in
goods deficit to C$6.74 billion from C$7.07 billion in the first
quarter.
Overall exports of goods edged up C$680 million to C$128.83
billion, largely due to higher prices. Total imports of goods
rose by C$350 million to C$135.57 billion, in part due to higher
shipments of motor vehicles and parts.
The deficit on trade in services shrank by C$240 million to
C$5.49 billion as non-residents increased their spending in
Canada. This reflected the higher number of foreign travelers,
Statscan said.
The deficit on cross-border investment income flows dropped
to C$4.00 billion from C$4.19 billion as earnings by Canadian
investors on their holdings of foreign securities advanced for
the 11th successive quarter.
($1=$1.32 Canadian)

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