(Corrects increase in imports in last paragraph to C$509
million from C$509 billion)
* Q4 deficit C$16.01 bln, forecast C$17.00 bln
* Q3 deficit revised to C$14.80 bln from C$15.47 bln
* Deficit in 2013 was second highest on record
* Lower crude prices main reason for higher Q4 deficit
OTTAWA, Feb 27 Lower prices for crude oil helped
to widen Canada's current account deficit to its fourth-largest
level ever in the fourth quarter of 2013, but the gap was still
smaller than expected and previous deficits were revised lower
than originally reported.
Statistics Canada reported a fourth-quarter gap of C$16.01
billion ($14.42 billion) on Thursday. It revised the
third-quarter deficit to C$14.80 billion from C$15.47 billion,
and the second-quarter gap to C$15.21 billion from C$15.92
The median forecast in a Reuters survey of analysts was for
a C$17.00 billion deficit.
The fourth-quarter deficit was the largest since the third
quarter of 2012 and the fourth biggest on record. The figures
are seasonally adjusted.
The year 2013 saw the second-biggest deficit ever, of
C$60.70 billion, down a touch from C$62.22 billion in 2012.
Statscan said the increase in the fourth-quarter deficit was
mostly because of the trade in goods, with exports down C$876
million and imports up C$509 million. The biggest factor was a
C$2.20 billion decline in crude oil exports, mainly because of
(Reporting by Randall Palmer; Editing by Bernadette Baum)