OTTAWA, Feb 29 (Reuters) - Canada’s current account deficit widened modestly in the fourth quarter from a revised third quarter, while the gap increased substantially in 2015 overall from the year before, data from Statistics Canada showed on Monday.
The current account gap increased to C$15.38 billion ($11.34 billion) in the final quarter of last year from a C$15.31 billion deficit in the third quarter.
The fourth-quarter reading came under economists’ forecasts for a deficit of C$15.60 billion, while the third quarter was revised from an initially reported C$16.21 billion.
International transactions in goods narrowed to a C$4.78 billion deficit as imports declined more than exports. But the goods balance hit a record C$23.65 billion deficit for the year overall due to a slump in energy product exports.
For 2015, the current account deficit expanded to C$65.71 billion from 2014’s C$44.89 billion.
($1 = $1.3558 Canadian)
Reporting by Leah Schnur Editing by W Simon