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Canada records first ever surplus in net foreign-asset position

CanadianMoney2

Canada reported the first ever surplus in its international assets in the fourth quarter, supported by gains in foreign stock markets and a weaker currency.

Statistics Canada reported a net international investment position of $26.7 billion on assets of $2.91 trillion and liabilities of $2.88 trillion. The agency’s records date back to 1990.

Foreign assets held by Canadians rose by $240 billion in the fourth quarter on gains in stock prices while Canada’s dollar fell 3.1 percent against the U.S. dollar. The weaker currency raised the value of Canada’s international assets more than the value of liabilities, Statistics Canada said.

Canadian assets held by foreigners rose by $142 billion in the fourth quarter, according to the report.

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