Statistics
Canada reported on Monday that the country’s current account (C/A) registered a
deficit of CAD11.10 billion in the third quarter of 2022 compared to a downwardly
revised CAD2.65-billion surplus (from CAD2.69 billion) in the previous
three-month period. This marked the biggest shortfall in Canada’s
C/A since the third quarter of 2020 (CAD13.26 billion).
Economists had foreseen a CAD2.10-billion surplus for the
third quarter.
According
to the report, the Q3 C/A gap reflected a significant decline in goods surplus
(-CAD8.70 billion to CAD1.68 billion in the third quarter) and a rise in
investment income deficit (+CAD3.03 billion to CAD4.17 billion).