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“Canada’s current account deficit (on a seasonally adjusted basis) narrowed by $6.3 billion in the third quarter to $10.3 billion, the lowest level since the end of 2016,” Statistics Canada announced on Thursday.

Key quotes

  • This reduction reflected lower deficits on goods, services and investment income.
  • The deficit on international trade in goods and services narrowed by $4.6 billion to $8.0 billion in the third quarter.
    • This was the lowest deficit since the fourth quarter of 2016.
  • The goods deficit fell by $4.0 billion to $1.7 billion in the third quarter, led by a higher surplus with the United States.