UPDATE 1-Canada current account gap grows as exports fall

* Q3 current account deficit widens to C$17.54 billion

* Exports fall for first time since Q2 2009, imports gain
(Adds details)

OTTAWA, Nov 29 (BestGrowthStock) – Canada’s current account deficit
widened more than expected in the third quarter as exports to
the United States fell for the first time in more than a year
while imports of goods increased, suggesting an uneven economic

The country’s eighth consecutive quarterly shortfall in the
current account — a measure of transactions in goods, services
and investment income — totaled C$17.54 billion ($17.20
billion), compared with a revised second-quarter gap of C$12.98
billion, Statistics Canada said on Monday.

Analysts surveyed by Reuters had forecast a C$15 billion

Imports got a boost in the quarter from businesses
importing more machinery and equipment. But anemic U.S. demand
for Canadian goods, particularly crude oil, led to a decline in
overall exports for the first time since the second quarter of
last year.

As a result, the deficit in trade in goods bulged to C$6.50
billion from C$2.24 billion in the previous quarter.

The deficit in trade in services was unchanged in the third
quarter while the investment income deficit narrowed slightly.
($1 = $1.02 Canadian)
(Reporting by Louise Egan; Editing by Padraic Cassidy)

UPDATE 1-Canada current account gap grows as exports fall