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Current account deficit rises $1.2-billion in fourth quarter

A container ship prepares to pass under the Lions Gate Bridge in Vancouver.

rafal gerszak The Globe and Mail

Statistics Canada says the country's current account deficit increased $1.2-billion to $16-billion in the fourth quarter on a seasonally adjusted basis.

The agency said the increase was mostly due to a larger deficit on trade in goods.

The deficit on international trade in goods widened $1.4-billion to $2.7-billion in the fourth quarter, as exports fell and imports moved higher.

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The trade surplus with the United States was down by $3.3-billion on stronger imports and weaker exports, both sides led by changes in crude petroleum.

The narrowing in the deficit with the rest of the world had a moderating effect, as imports of crude petroleum were down $1.6-billion.

Overall exports of goods were down $900-million to $120.1-billion, while total imports of goods were up $500-million to $122.9-billion

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