Canada’s current account deficit narrowed to $15.9-billion in the second quarter from a revised $17.5-billion deficit in the first quarter on a lower trade gap in goods, Statistics Canada said on Wednesday.
Analysts in a Reuters poll had forecast a shortfall of $15.2-billion.
The goods trade deficit fell by $3.3-billion to $5.3-billion as the surplus with the United States was boosted by stronger exports.
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Exports of goods rose by $8.1-billion to $148.0-billion, led by higher exports of energy and forestry products. Exports of metal and non-metallic minerals and consumer goods also climbed.
Imports of goods rose $4.8-billion to $153.3-billion, lifted by increased imports of basic and industrial chemical, plastic and rubber products.
The deficit on trade in services widened by $1.1.-billion to $7.0-billion.
Direct investment abroad rose to $21.7-billion from $7.1-billion in the first quarter. That eclipsed direct investment in Canada, which was $11.7-billion in the second quarter.