August 29, 2024 at 01:30PM
Prior was -5.37 billion
Goods deficit increased to C$2.2 billion from near balance in Q1
Services deficit narrowed to C$3.2 billion from C$4.3 billion
Investment income balance swung to C$0.6 billion deficit from C$1.3 billion surplus
Key Points:
Imports rose 2.0% to C$196.1 billion, led by motor vehicles and parts
Exports edged up 0.9% to C$139.9 billion on higher aircraft shipments
Foreign investment in Canadian securities surged to C$67.3 billion, highest since Q1 2022
Foreign direct investment in Canada hit C$38.5 billion, strongest since 2007
While services exports improved, the goods balance deteriorated significantly. The swing to an investment income deficit is also concerning. However, strong foreign investment inflows, particularly in government bonds, helped finance the shortfal
This article was written by Adam Button at www.forexlive.com.
