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Oil well pump (Getty Images/Hemera)
Oil well pump (Getty Images/Hemera)

Current account deficit up $500-million Add to ...

Statistics Canada says the country’s current account deficit increased $500-million to $18.9-billion on a seasonally adjusted basis in the third quarter, amid declining exports of oil and other goods.

The agency says total exports of goods were down $3.7-billion to $112.7-billion, marking a third consecutive quarterly drop.

Exports of energy products were down $1.6-billion, on lower volumes of crude petroleum and refined petroleum products and there were also drops in exports of consumer goods and industrial chemical products.

Imports declined $2.5-billion in the third quarter, following a high set in the previous quarter.

Motor vehicles and parts imports fell $700-million and energy products declined $500-million.

The overall balance on trade in goods posted a $4.8-billion deficit in the third quarter, following a $3.6-billion deficit in the previous quarter.

The trade surplus with the United States declined by $600-million, as exports were down $2.4-billion and imports were off by $1.8-billion.

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