Canada's current account gap widened by CAD 0.7 billion to CAD 17.3 billion in the first quarter of 2019 from a upwardly revised CAD 16.6 billion in the previous period and compared to market expectations of a CAD 18 billion shortfall. It was the biggest current account gap since the second quarter of 2016, reflecting a higher trade in goods and services deficit, and moderated by a lower investment deficit. Current Account in Canada averaged -2593.80 CAD Million from 1946 until 2019, 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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Calendar GMT Actual Previous Consensus TEForecast
2018-08-29 12:30 PM Current Account Q2 C$-15.88B C$-19.5B C$-15.2B C$ -19.4B
2018-11-29 01:30 PM Current Account Q3 C$-10.3B C$-16.7B C$-11.5B C$ -15.5B
2019-02-28 01:30 PM Current Account Q4 C$-15.5B C$-10.1B C$-13.5B C$-11B
2019-05-30 12:30 PM Current Account Q1 C$-17.35B C$-16.62B C$-18B C$-16.8B
2019-08-29 12:30 PM Current Account Q2 C$-17.35B C$-18B
2019-11-28 01:30 PM Current Account Q3 C$-17B



Canada Current Account Deficit Widest Since 2016

Canada's current account gap widened by CAD 0.7 billion to CAD 17.3 billion in the first quarter of 2019 from a upwardly revised CAD 16.6 billion in the previous period and compared to market expectations of a CAD 18 billion shortfall. It was the biggest current account gap since the second quarter of 2016, reflecting a higher trade in goods and services deficit, and moderated by a lower investment deficit.

The goods deficit increased by CAD 1.2 billion to CAD 9.1 billion, following a CAD 7.9 billion in the previous quarter. Total exports of goods rose by CAD 2.0 billion to CAD 146 billion, mainly due to an increase in sales of energy products (CAD +3.5 billion) on higher crude petroleum prices (+29%). These increases were partially offset by lower exports of farm, fishing and intermediate food products, notably canola and other crop products. Imports of goods went up by CAD 3.2 billion to CAD 155.2 billion, amid higher purchases of aircraft & other transport equipment (CAD +2.0 billions) on stronger imports of aircraft. Motor vehicles and parts rose CAD 1.3 billion while pharmaceutical and medical products accounted for most of the CAD 0.7 billion increase in imports of consumer goods.

On a country basis, the goods deficit with China increased by CAD 2.1 billion to CAD 6.1 billion, on lower exports of farm, fishing and intermediate food products. Meanwhile, the trade surplus with the United States went up by CAD 2.4 billion, led by higher exports of energy products.

The services deficit remained at CAD 6 billion in the first quarter of 2019, as a larger travel deficit was offset primarily by a higher commercial services surplus.

The deficit on primary income, which covers investment income on international assets and liabilities and compensation of employees, declined by CAD 0.2 billion to CAD 1.2 billion in the first quarter of 2019. Profits earned on direct investment abroad increased CAD 0.1 billion to CAD 5.9 billion, and were mostly responsible for the lower deficit since 2014.


Statistics Canada | Rafael Gonzalez | rafael.gonzalez@tradingeconomics.com
5/30/2019 3:22:27 PM



Canada Trade Last Previous Highest Lowest Unit
Balance of Trade 762.30 -1082.90 8524.80 -4962.00 CAD Million [+]
Current Account -17347.00 -16616.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -2.60 -2.80 2.70 -4.20 percent [+]
Imports 52344.10 51834.60 52453.00 1112.00 CAD Million [+]
Exports 53106.40 50751.70 53106.40 1366.00 CAD Million [+]
External Debt 2684119.00 2691144.00 2691144.00 795408.00 CAD Million [+]
Terms of Trade 93.20 92.10 108.50 79.10 Index Points [+]
Foreign Direct Investment 12178.00 18966.00 50326.00 -8640.00 CAD Million [+]
Capital Flows -89.00 0.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.20 0.00 Tonnes [+]
Crude Oil Production 3983.00 4081.00 4520.00 955.00 BBL/D/1K [+]
Terrorism Index 3.53 2.96 3.53 0.65 [+]
Tourist Arrivals 2079426.00 1809305.00 7006165.00 1138895.00 [+]
Weapons Sales 84.00 64.00 473.00 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 July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-17347.00 -16616.00 12230.00 -20197.00 1946 - 2019 CAD Million Quarterly




Country Last Previous
Argentina -3849.43 Mar/19
Australia -2900.00 Mar/19
Brazil 662.00 May/19
Canada -17347.00 Mar/19
China 490.00 Mar/19
Euro Area 13.32 May/19
France 343.00 May/19
Germany 16500.00 May/19
India -4600.00 Mar/19
Indonesia -6966.00 Mar/19
Italy 2599.00 May/19
Japan 1594.84 May/19
Mexico -5634.10 Mar/19
Netherlands 18079.00 Mar/19
Russia 12100.00 Jun/19
Saudi Arabia 11518.00 Mar/19
Singapore 20296.50 Mar/19
South Africa -142495.00 Mar/19
South Korea 4949.40 May/19
Spain -413.00 Apr/19
Switzerland 17215.95 Mar/19
Turkey 151.00 May/19
United Kingdom -30045.00 Mar/19
United States -130400.00 Mar/19


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