Canada: Current account deficit widened by $3.4 billion in second quarter to $16.3 billion

"Canada's current account deficit (on a seasonally adjusted basis) widened by $3.4 billion in the second quarter to $16.3 billion, as the deficit on international trade in goods expanded," the Statistics Canada said on Wednesday.

Key quotes:

• The deficit on international trade in goods expanded $3.3 billion to reach $5.2 billion in the second quarter, as imports advanced by more than exports.
• This followed a $2.0 billion deterioration of the goods balance in the first quarter.
• On a geographical basis, the goods deficit with non-US countries was up $1.8 billion, mainly reflecting a higher deficit with China.
• Total exports of goods rose $4.4 billion to $143.3 billion in the second quarter.
• Total imports of goods were up $7.7 billion to $148.5 billion in the second quarter, the largest quarterly growth in nine years.