Canada's current account deficit increased by CAD 5.4 billion in the fourth quarter of 2018 to CAD 15.5 billion from a downwardly revised 10.1 billion in the previous period and compared with market consensus of a CAD 13.5 billion shortfall. A higher deficit in goods and services was only moderated by a lower investment income gap. Current Account in Canada averaged -2543.82 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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Calendar GMT Actual Previous Consensus TEForecast
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$-10.3B C$-16.7B C$-11.5B C$ -15.5B
2019-02-28 01:30 PM Current Account C$-15.5B C$-10.1B C$-13.5B C$-11B
2019-05-30 12:30 PM Current Account C$-15.5B
2019-08-29 12:30 PM Current Account
2019-11-28 01:30 PM Current Account



Canada Current Account Gap Widens in Q4

Canada's current account deficit increased by CAD 5.4 billion in the fourth quarter of 2018 to CAD 15.5 billion from a downwardly revised 10.1 billion in the previous period and compared with market consensus of a CAD 13.5 billion shortfall. A higher deficit in goods and services was only moderated by a lower investment income gap.

Exports of goods were down by CAD 7.8 billion to CAD 144.4 billion in the fourth quarter 2018, after reaching a record CAD 152.2 billion in the third quarter. Energy products accounted for most of the reduction in the value of exports, notably crude petroleum (down CAD 7.5 billion). Crude petroleum prices declined nearly 50% in the last two months of the quarter. Higher exports of natural gas moderated the overall reduction in energy product exports.

Imports of goods were down by CAD 1.5 billion to CAD 151.6 billion in the fourth quarter, as purchases declined by CAD 0.6 billion for energy products, basic and industrial chemical, plastic and rubber products, and motor vehicles and parts. Lower volumes imported were the main contributor to these decreases, except energy product imports, which declined on lower prices.

The trade in services deficit was down CAD 0.2 billion to CAD 6.2 billion in the fourth quarter, led by a higher commercial services surplus.

The gap on trade in goods and services rose by CAD 6.1 billion to CAD 13.4 billion. Exports were down by CAD 7.3 billion to CAD 175.1 billion, mainly on lower sales of energy products. This reflects a sharp decline in energy prices, which were down 22% in the quarter. Imports of goods and services declined by CAD 1.1 billion to CAD 188.5 billion.

The deficit on primary income was reduced by CAD 0.7 billion to CAD 1.5 billion. The deficit on investment income declined by CAD 0.7 billion to CAD 0.9 billion in the fourth quarter. Profits earned by residents on their direct investment abroad increased by CAD 1.2 billion to a record CAD 19.0 billion. Meanwhile, profits earned by non-residents on their direct investment in Canada edged down for a second quarter in a row.

The gap on secondary income remained barelly unchanged at CAD 0.55 billion.

In 2018, the current account deficit narrowed by CAD 1.4 billion to CAD 58.7 billion, the lowest deficit in four years. The trade in goods deficit declined by CAD 3.1 billion, while the investment income deficit increased by CAD 2.3 billion. The current account deficit has now declined for three consecutive years, from a peak of CAD 70.5 billion in 2015.


Statistics Canada | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
2/28/2019 2:09:26 PM



Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -4593.40 -1979.60 8524.80 -4593.40 CAD Million [+]
Current Account -15483.00 -10108.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.00 -3.30 2.70 -4.20 percent [+]
Imports 50902.20 50098.60 51817.90 1112.00 CAD Million [+]
Exports 46308.80 48119.00 51344.60 1366.00 CAD Million [+]
External Debt 2691144.00 2550999.00 2691144.00 795408.00 CAD Million [+]
Terms of Trade 87.40 92.30 108.50 79.10 Index Points [+]
Foreign Direct Investment 17199.00 8909.00 50326.00 -8640.00 CAD Million [+]
Capital Flows -27.00 0.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.20 0.00 Tonnes [+]
Crude Oil Production 4225.00 4329.00 4329.00 955.00 BBL/D/1K [+]
Terrorism Index 3.53 2.96 3.53 0.65 [+]
Tourist Arrivals 2145219.00 1744313.00 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 March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-15483.00 -10108.00 12230.00 -20197.00 1946 - 2018 CAD Million Quarterly




Country Last Previous
Argentina -7591.00 Sep/18
Australia -7203.00 Dec/18
Brazil -6548.40 Jan/19
Canada -15483.00 Dec/18
China 546.00 Dec/18
Euro Area 32.99 Dec/18
France 898.00 Jan/19
Germany 18328.50 Jan/19
India -19100.00 Sep/18
Indonesia -9148.00 Dec/18
Italy 4211.00 Dec/18
Japan 600.40 Jan/19
Mexico -3424.00 Dec/18
Netherlands 20484.80 Sep/18
Russia 38800.00 Dec/18
Saudi Arabia 29583.00 Sep/18
Singapore 17796.10 Dec/18
South Africa -110158.00 Dec/18
South Korea 2772.30 Jan/19
Spain 4670.00 Dec/18
Switzerland 14596.00 Sep/18
Turkey -813.00 Jan/19
United Kingdom -26522.00 Sep/18
United States -124817.00 Sep/18


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