Statistics Canada reported on Monday that the country’s current account (C/A) surplus expanded to CAD3.58 billion in the second quarter of 2021 from an upwardly revised CAD1.82-billion surplus in the previous thee-month period (originally a surplus of CAD1.18 billion). Prior to 2021, Canada had continuous C/A deficits from the fourth quarter of 2008 until the end of 2020, the Statistics Canada noted.

Economists had expected a CAD1.85-billion surplus.

According to the report, the C/A surplus primarily reflected a positive trade in and services balance goods (+CAD0.18 billion to CAD1.82 billion in the second quarter; its second consecutive surplus) and a higher investment income surplus (+CAD1.69 billion to CAD4.00 billion).