Statistics Canada reported on Thursday that the country’s current account (C/A) gap narrowed by CAD4.6 billion to CAD8.6 billion in the second quarter of 2020 from an upwardly revised CAD13.2 billion in the previous three-month period (originally a gap of CAD11.1 billion).

Economists had expected a CA12.2-billion shortfall.

According to the report, the reduction in C/A deficit reflected a lower deficit in trade in goods and services (-CAD5.3 billion to CAD7.9 billion in the second quarter) and was moderated by a lower surplus for investment income (-CAD1.1 billion to CAD0.7 billion in the second quarter).