The Canadian account deficit widened by C$2.3 billion, to C$14.1 billion in the first quarter as the balance on international trade in goods posted a deficit following a surplus in the prior quarter, Statistics Canada said May 30.
The goods balance registered a C$1.8 billion deficit in the first quarter, compared with a C$100 million surplus in the previous quarter. The goods deficit comprises a C$2.3 billion deficit with non-U.S. countries and a C$500 million surplus with the U.S.
Total exports of goods rose to C$138.5 billion, while total imports climbed by C$4.0 billion, to C$140.3 billion in the first quarter.
The overall deficit on international trade in services rose C$300 million in the first quarter to C$5.7 billion as the commercial services surplus went down.
Foreign investment in Canadian securities came in at C$60.7 billion in the first quarter, compared with C$33.5 billion in the previous quarter.