Canada's current account deficit narrowed by CAD 2.1 billion to CAD 8.76 billion in the last quarter of 2019 from an upwardly revised CAD 10.86 billion in the previous period and compared with market expectations of a CAD 9.0 billion gap. The goods and services shortfall decreased to CAD 8.26 billion from CAD 8.54 billion in Q3, as the goods deficit fell to CAD 3.14 billion from CAD 4.14 billion; while the services gap widened to USD 5.11 billion from CAD 4.40 billion. Additionally, the primary income deficit decreased to CAD 0.39 billion from CAD 1.05 billion in the prior period; and the secondary income gap went down to CAD 0.11 billion from CAD 1.28 billion. Considering full 2019, the current account deficit stood at CAD 45.4 billion, down CAD 10.1 billion from 2018, its lowest shortfall since 2008, when the country posted a current account surplus.

Current Account in Canada averaged -2592.29 CAD Million from 1946 until 2019, 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 May of 2020. source: Statistics Canada

Current Account in Canada is expected to be -15000.00 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 -15100.00 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.

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Canada Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-8757.00 -10864.00 12492.00 -20035.00 1946 - 2019 CAD Million Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-05-30 12:30 PM Q1 C$-17.35B C$-16.62B C$-18B C$-16.8B
2019-08-29 12:30 PM Q2 C$-6.38B C$-16.63B C$-9.8B C$-11B
2019-11-28 01:30 PM Q3 C$-9.86B C$-6.74B C$-9.0B C$-9B
2020-02-27 01:30 PM Q4 C$-8.76B C$-10.86B C$-9B C$-9.4B
2020-05-28 12:30 PM Q1 C$-8.76B C$-12B
2020-08-27 12:30 PM Q2 C$-15B
2020-11-30 01:30 PM Q3 C$-18B


News Stream
Canada Current Account Gap Narrows in Q4
Canada's current account deficit narrowed by CAD 2.1 billion to CAD 8.76 billion in the last quarter of 2019 from an upwardly revised CAD 10.86 billion in the previous period and compared with market expectations of a CAD 9.0 billion gap. The goods and services shortfall decreased to CAD 8.26 billion from CAD 8.54 billion in Q3, as the goods deficit fell to CAD 3.14 billion from CAD 4.14 billion; while the services gap widened to USD 5.11 billion from CAD 4.40 billion. Additionally, the primary income deficit decreased to CAD 0.39 billion from CAD 1.05 billion in the prior period; and the secondary income gap went down to CAD 0.11 billion from CAD 1.28 billion. Considering full 2019, the current account deficit stood at CAD 45.4 billion, down CAD 10.1 billion from 2018, its lowest shortfall since 2008, when the country posted a current account surplus.
2020-02-27
Canada Current Account Deficit Widens in Q3
Canada's current account gap widened by CAD 3.1 billion to CAD 9.9 billion in the third quarter of 2019 from an upwardly revised CAD 6.7 billion in the previous period and compared with market forecasts of a CAD 9 billion deficit. The goods and services shortfall increased, reflecting a higher goods deficit.
2019-11-28
Canada Current Account Deficit Smallest Since 2008
Canada's current account gap narrowed by CAD 10.2 billion to CAD 6.4 billion in the second quarter of 2019 from a downwardly revised CAD 16.6 billion in the previous period and compared with market expectations of a CAD 9.8 billion shortfall. It was the smallest current account gap since Canada returned to a deficit position at the end of 2008, reflecting a much lower deficit on goods.
2019-08-29
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.
2019-05-30

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).