August 30, 2016 / 12:42 PM / in 2 years

UPDATE 1-Canada current account deficit hits near-record C$19.86 bln

(Adds details of release, background)

OTTAWA, Aug 30 (Reuters) - Canada’s current account deficit widened to a near-record C$19.86 billion ($15.28 billion) in the second quarter as the value of exports continued to sink, Statistics Canada said on Tuesday.

The shortfall, though slightly smaller than the C$20.50 billion forecast in a Reuters poll, was the second-largest after the C$20.20 billion deficit in the third quarter of 2010. Statscan revised the first-quarter deficit figure to C$16.59 billion from C$16.77 billion.

The deficit for international transactions in goods jumped to a record C$11.28 billion from C$6.48 billion in the first quarter. Overall, exports of goods dropped to C$123.57 billion from C$130.20 billion, in part due to lower shipments of motor vehicles and parts as well as consumer goods.

The overall deficit on international trade in services narrowed to C$5.14 billion from C$5.40 billion in the first quarter.

The deficit on cross-border investment income flows shrank to C$2.88 billion from C$3.44 billion.

($1=$1.30 Canadian)

Reporting by David Ljunggren; Editing by Lisa Von Ahn

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