Canada's current account deficit in 4Q was reduced by 0.8 bln to total 17.3 bln Can dollar on a seasonally adjusted basis, reported StatCanada. The decrease of the goods deficit was explained partially by the increase of the investment income deficit.
The deficit on trade in goods was reduced by 2.3 bln dollars in 4Q to total 2.8 bln. This largely reflected increased exports, led by energy products and by farm, fishing and intermediate food products. The goods surplus with the United States was up $2.0 billion on stronger exports in the fourth quarter, although for the year 2012, it was reduced by 6.8 bln to 42.1 bln Can dollars. The deficit on goods with all other countries reached a record of 54.0 bln in 2012, up 6.0 bln can dollars from 2011.