Forexpros – Canada’s current account deficit narrowed less-than-expected in the third quarter, official data showed on Tuesday.
In a report, Statistics Canada said the country’s current account deficit narrowed to a seasonally adjusted CAD12.1 billion from a deficit of CAD16.1 billion in the previous quarter, whose figure was revised from a deficit of CAD15.3 billion.
Analysts had expected Canada’s current account deficit to narrow to CAD11.1 billion in the third quarter.
The overall balance on the trade in goods was a CAD0.7 billion surplus in the third quarter following a CAD3.5 billion deficit the previous quarter.
Exports of goods were up CAD4.7 billion to CAD115.2 billion in the third quarter, the highest level since the third quarter of 2008, while imports of goods edged up CAD0.4 billion in the third quarter to CAD114.5 billion.
Following the release of the data, the Canadian dollar remained higher against its U.S. counterpart, with USD/CAD shedding 0.27% to trade at 1.0312.
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