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August 31, 2023CANADA'S BALANCE OF INTERNATIONAL PAYMENTS Q2 2023
Quarter-over-quarter (all countries, seasonally adjusted, Q2 2023 vs. Q1 2023)
Canada's current account receipts decreased $3.05 billion to $296.93 billion while current account payments increased $402 million to $303.56 billion. The resulting net current account deficit widened by $3.45 billion to $6.63 billion in Q2 2023.
Goods exports were down $7.61 billion to $185.91 billion while goods imports decreased $654 million to $192.04 billion. The goods balance changed to a $6.13 deficit in Q2 2023.
Services exports were up $1.17 billion to $44.61 billion while services imports decreased $162 million to $47.65 billion. The services deficit narrowed by $1.33 billion to $3.04 billion in Q2 2023.
Primary income receipts increased $3.55 billion to $61.56 billion while primary income payments increased $1.38 billion to $58.39 billion. The primary income surplus widened by $2.18 billon to $3.17 billion in Q2 2023.
Secondary income receipts decreased $161 million to $4.85 billion while secondary income payments decreased by $149 million to $5.48 billion. The resulting net secondary income deficit widened by $12 million to $629 million in Q2 2023.
Source: Statistics Canada. Table 36-10-0018-01 Balance of international payments, current account, seasonally adjusted, quarterly (x 1,000,000)
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