Canada's Q2 current-account surplus widened to CAD 8.84 bln (USD 6.4 bln), more
than double economists' expectations of CAD 3.9 bln and the largest surplus
Since 2005 (fourth-largest since 1981), Statistics Canada said. The swing from a
revised Q1 deficit of CAD 8.31 bln was driven by commodity exports—crude and
bitumen exports hit record levels—and Q2 energy exports rose 27.4% amid a global
oil-price surge linked to the Iran conflict. An escalating tariff dispute with
the U.S. provided an additional trade buffer. Foreign investors added a record
CAD 80.8 bln of Canadian government bonds.
