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- Canada's current account deficit declined by $2.2 billion in the fourth quarter to $16.3 billion
Canada's current account deficit declined by $2.2 billion in the fourth quarter to $16.3 billion
Canada's current account deficit (on a seasonally adjusted basis) declined by $2.2 billion in the fourth quarter to $16.3 billion, mainly on a lower goods deficit.
In the financial account (unadjusted for seasonal variation), transactions in the form of currency and deposits led the inflow of funds into the economy in the quarter as portfolio and direct investment activity mostly offset each other.
For the year 2017, the current account deficit reached $63.9 billion, which was $1.4 billion less than the deficit recorded in 2016. In the financial account, transactions in securities generated a significant net inflow of funds in 2017, which was largely offset by an outflow from direct investment transactions as direct investment abroad exceeded direct investment in Canada.
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