Canada Current Account  1946-2018 | Data | Chart | Calendar | Forecast

Canada's current account deficit decreased by CAD 1.6 billion in the second quarter to CAD 15.9 billion from a downwardly revised CAD 17.5 billion in the previous period and compared with market consensus of a CAD 15.2 billion shortfall. A lower deficit on trade in goods more than offset higher deficits on trade in services and investment income in the quarter. Current Account in Canada averaged -2490.04 CAD Million from 1946 until 2018, reaching an all time high of 12230 CAD Million in the fourth quarter of 2005 and a record low of -20197 CAD Million in the third quarter of 2010.

Canada Current Account
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Canada Current Account Gap Narrows in Q2


Canada's current account deficit decreased by CAD 1.6 billion in the second quarter to CAD 15.9 billion from a downwardly revised CAD 17.5 billion in the previous period and compared with market consensus of a CAD 15.2 billion shortfall. A lower deficit on trade in goods more than offset higher deficits on trade in services and investment income in the quarter.

The goods deficit fell by CAD 3.3 billion to CAD 5.3 billion in the second quarter, as the surplus with the United States rose by CAD 3.4 billion, mostly on stronger exports. Meanwhile, the deficit with non-US countries widened by CAD 0.1 billion to CAD 16.3 billion. On a country basis, the largest improvements to trade balances were with China, Hong Kong and Switzerland, while the most important declines were with United Kingdom and South Korea.

Total exports of goods rose by CAD 8.1 billion to CAD 148.0 billion in the second quarter. Exports of energy products were up by CAD 1.6 billion on higher crude petroleum volumes. Forestry products (+CAD 1.4 billion), metal and non-metallic minerals (+CAD 1.3 billion) and consumer goods (+CAD 1.3 billion) also contributed to the increase in exports in the quarter. The second quarter of 2018 was the first quarter that Canadian exports of steel and aluminum products to the United States were subject to tariffs, as they took effect on June 1. At the same time, total imports of goods were up CAD 4.8 billion to CAD 153.3 billion with basic and industrial chemical, plastic and rubber products being the main contributors, increasing by CAD 1.1 billion on higher volumes.

Meanwhile, the deficit on trade in services expanded by CAD 1.1 billion to CAD 7.0 billion in the second quarter. The surplus on commercial services decreased by CAD 0.7 billion, mostly on higher imports of financial services. This was in line with a higher volume of cross-border trading in foreign securities as well as increased new issue activity abroad by Canadian corporations in the quarter. The travel deficit expanded by CAD 0.2 billion to CAD 3.9 billion as Canadians spent more abroad in the quarter. The transport deficit also went up by CAD 0.2 billion due to higher imports of marine transport.

The deficit on primary income, which covers investment income on international assets and liabilities and compensation of employees, widened by CAD 0.3 billion to CAD 2.8 billion in the second quarter.

Investment income payments on Canada's international liabilities increased by CAD 2.2 billion to CAD 34.9 billion in the quarter. Larger profits earned by foreign direct investors in Canada, combined with higher interest paid on Canadian private corporate bonds and from banking activities, were the main contributors to the increase. Investment income receipts on Canada's international assets rose CAD 1.9 billion to CAD 32.6 billion. Receipts on holdings of portfolio and direct investment assets were both up while interest receipts from banking activities also increased.


Statistics Canada | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
8/29/2018 1:05:24 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-03-01 01:30 PM Current Account C$-16.4B C$-18.6B C$-17.8B C$ -19B
2018-05-30 12:30 PM Current Account C$-19.5B C$-16.5B C$-18B C$ -17B
2018-08-29 12:30 PM Current Account C$-15.88B C$-19.5B C$-15.2B C$ -19.4B
2018-11-29 01:30 PM Current Account C$-15.88B C$ -15.5B


Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -114.30 -743.00 8524.80 -4127.40 CAD Million [+]
Exports 51265.40 50859.60 51265.40 1366.00 CAD Million [+]
Imports 51379.70 51602.60 52015.70 1112.00 CAD Million [+]
Current Account -15880.00 -17500.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.00 -3.30 2.70 -4.20 percent [+]
External Debt 631.90 615.99 631.90 14.82 CAD Billion [+]
Terms of Trade 92.40 92.20 110.30 81.20 Index Points [+]
Foreign Direct Investment 11674.00 16752.00 50326.00 -8640.00 CAD Million [+]
Capital Flows 0.00 -51.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.19 0.00 Tonnes [+]
Crude Oil Production 4237.00 4297.00 4297.00 955.00 BBL/D/1K [+]
Terrorism Index 2.96 2.52 3.00 0.65 [+]
Tourist Arrivals 3786646.00 2607284.00 7006165.00 1138895.00 [+]
Weapons Sales 87.00 144.00 469.00 38.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Canada Current Account

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). This page provides - Canada Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Current Account - actual data, historical chart and calendar of releases - was last updated on September of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-15880.00 -17500.00 12230.00 -20197.00 1946 - 2018 CAD Million Quarterly




current account by Country
Country Last
Argentina -9623.00 Mar/18
Australia -13472.00 Jun/18
Brazil -4433.00 Jul/18
Canada -15880.00 Jun/18
China 58.00 Jun/18
Euro Area 31.93 Jul/18
France 542.00 Jul/18
Germany 15300.00 Jul/18
India -15807.13 Jun/18
Indonesia -8028.00 Jun/18
Italy 8607.00 Jul/18
Japan 2010.00 Jul/18
Mexico -3882.10 Jun/18
Netherlands 21821.00 Mar/18
Russia 22300.00 Jun/18
Saudi Arabia 11065.00 Mar/18
Singapore 22832.40 Jun/18
South Africa -163760.00 Jun/18
South Korea 8757.80 Jul/18
Spain 490.00 Jun/18
Switzerland 18134.28 Mar/18
Turkey -1750.00 Jul/18
United Kingdom -17720.00 Mar/18
United States -101460.00 Jun/18


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