Canada ' s current account surplus in the second quarter reached a 20-year high

Statistics Canada released data on Thursday that showed Canada ' s current account surplus of $8.84 billion (about $6.4 billion) in the second quarter, the largest since 2005, and the fourth largest current account surplus since 1981 when relevant data were available. The surplus was twice as high as expected by economists and was driven mainly by commodity exports, particularly of energy products. Canada ' s exports of energy products grew by 27.4 per cent in the second quarter as a result of the sharp rise in global oil prices driven by the war in Iran. There was also a record inflow of Canadian government bonds, with foreign investors increasing their stock of Canadian government bonds by $80.8 billion。