Canada's current account deficit narrowed by CAD 3.2 billion to CAD 7.3 billion in the fourth quarter of 2020, compared to market forecasts of CAD 8.3 billion. This reduction reflected a higher investment income surplus and, to a lesser extent, a lower trade in goods and services deficit. Investment income receipts were up after three consecutive quarterly reductions, while payments were down for the fourth quarter in a row. The investment income surplus rose by CAD 3 billion to CAD 4.2 billion, almost entirely as a result of higher profits earned by Canadian direct investors abroad, as direct investment profits earned by foreigners in Canada edged up slightly. At the same time, the deficit in trade in goods and services dropped by CAD 421 million to CAD 9.2 billion, driven by a lower trade in goods deficit and a higher trade in services surplus. Considering full 2020, the current account deficit dropped by CAD 4.7 billion to CAD 42.7 billion. source: Statistics Canada
Current Account in Canada averaged -2695.06 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 May of 2021.
Current Account in Canada is expected to be -12100.00 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 -15800.00 in 12 months time. In the long-term, the Canada Current Account is projected to trend around -15600.00 CAD Million in 2022, according to our econometric models.