Statistics Canada reported on Monday that the country’s current account (C/A) gap widened by CAD0.5 billion to CAD7.5 billion in the third quarter of 2020 from a downwardly revised CAD7.0-billion deficit in the previous thee-month period (originally a gap of CAD8.6 billion).

Economists had expected a CAD9.1-billion shortfall.

According to the report, the expansion in C/A deficit reflected a larger deficit in trade in goods and services (+CAD0.7 billion to CAD8.2 billion in the third quarter), which was moderated by a higher investment income surplus (+CAD0.4 billion to CAD1.7 billion in the third quarter).