Canada: Current account deficit widened by $3.8 billion in Q3 to $19.3 billion

"Canada's current account deficit (on a seasonally adjusted basis) widened by $3.8 billion in the third quarter to $19.3 billion, as the deficit on international trade in goods expanded for the third quarter in a row," the Statistics Canada reported on Thursday.

Key highlights

In the financial account (unadjusted for seasonal variation), strong and continued foreign investment in Canadian bonds again led the inflow of funds into the economy.

The deficit on international trade in goods rose $3.6 billion to $8.9 billion in the third quarter, with both exports and imports declining.

This was the third consecutive increase of the goods deficit and the second highest deficit on record.

Total exports of goods declined $11.0 billion to $131.1 billion in the third quarter, following four straight quarters of increases.

After increasing by $10.7 billion over the first half of the year, total imports of goods were down $7.4 billion to $140.0 billion.