The current account deficit in Canada widened to CAD 7.5 billion in the third quarter of 2020 from a downwardly revised CAD 7 billion in the previous period but came much smaller than market forecasts of a CAD 9.1 billion gap. A larger deficit in trade in goods and services was moderated by a higher investment income surplus in the quarter. Overall, both exports and imports of goods increased significantly in the third quarter but were still below pre-pandemic levels. Goods imports were up by a record CAD 30.0 billion to CAD 144.9 billion, mainly due to motor vehicles and parts. International travel services remained considerably low as travel restrictions continued to be in force. Also, the primary income surplus increased by CAD 0.4 billion to CAD 1.7 billion due to a higher investment income surplus. source: Statistics Canada
Current Account in Canada averaged -2656.35 CAD Million from 1946 until 2020, reaching an all time high of 12492 CAD Million in the fourth quarter of 2005 and a record low of -20035 CAD Million in the third quarter of 2010. This page provides - Canada Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Current Account - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
Current Account in Canada is expected to be -9000.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Canada to stand at -14200.00 in 12 months time. In the long-term, the Canada Current Account is projected to trend around -15800.00 CAD Million in 2021 and -15600.00 CAD Million in 2022, according to our econometric models.