Current account deficit rose $1.1B in Q2: StatsCan


OTTAWA – Statistics Canada says the country’s current account deficit increased $1.1 billion to $14.6 billion in the second quarter on a seasonally adjusted basis.

It says the change was largely reflected in the trade balance, led by a higher deficit on trade in goods.

The deficit on trade in goods expanded $1.1 billion in the second quarter to $3.1 billion, as imports increased.

The trade surplus with the United States slipped during the quarter as imports grew more than exports.

A drop in energy exports to the United States largely offset gains in other categories.

Total imports of goods advanced $1.4 billion to $121.3 billion in the second quarter, while total exports of goods edged up $0.2 billion to $118.2 billion.

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Current account deficit rose $1.1B in Q2: StatsCan

  1. How does this relate to the deficit that they’re always talking about at election time? Is this a fluctuating number that doesn’t really matter at the end of accounting? I mean, is it like taking a projection from store sales in mid-june without remembering that Christmas is the biggest seller?

    • The current account is one component of Canada’s balance of international payments. The other component is the financial account (usually called ‘capital account’ in economic textbooks). It is unrelated to government deficits.
      Here’s the StatsCan link with the figures for the 2012 current account balance. You can see the various components that make up the balance. You can also see the financial (capital) account figures by selecting the link in the left margin.


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