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May 30, 2023CANADA'S BALANCE OF INTERNATIONAL PAYMENTS Q1 2023
Quarter-over-quarter (all countries, seasonally adjusted, Q1 2023 vs. Q4 2022)
Canada's current account receipts increased $6.8 billion to $297.6 billion while current account payments increased $4.9 billion to $303.8 billion. The resulting net current account deficit narrowed by $1.9 billion to $6.2 billion in Q1 2023.
Goods exports were down $975 million to $193.7 billion while goods imports decreased $189 million to $192.4 billion. The goods surplus narrowed by $786 million to $1.3 billion in Q1 2023.
Services exports were up $457 million to $43.3 billion while services imports increased $1.1 billion to $47.9 billion. The services deficit increased by $649 million to $4.7 billion in Q1 2023.
Primary income receipts increased $7.1 billion to $55.6 billion while primary income payments increased $4.5 billion to $57.9 billion. The primary income deficit narrowed by $2.5 billon to $2.4 billion in Q1 2023.
Secondary income receipts increased $186 million to $5.1 billion while secondary income payments increased $588 million to $5.5 billion. The resulting net secondary income deficit narrowed by $773 million to $412 million in Q1 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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