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.