Current account deficit up by $600 million in Q1: StatsCan

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OTTAWA - Statistics Canada says the country's current account deficit rose by $600 million to $10.3 billion in the first quarter on a seasonally adjusted basis.

The agency says a lower surplus on goods was partly offset by a lower deficit on investment income.

The overall goods surplus was down $1.3 billion in the first quarter, due mainly to lower exports.

But the surplus with the United States increased by $1.1 billion, reaching its highest level since the third quarter of 2008, led by increased exports of energy products.

Total exports of goods declined $1.3 billion to $120.2 billion, with shipments of industrial goods down $1.8 billion.

Imports of goods remained at $117.8 billion in the first quarter, with higher imports of cars and trucks offsetting lower imports of industrial goods, consumer goods and machinery and equipment.

Organizations: Statistics Canada

Geographic location: OTTAWA, United States

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