Canada recorded a current account deficit of CAD 11.1 billion in Q3 2022, the biggest gap since Q3 2020, and following surpluses in the first two quarters of 2022. The trade in goods and services balance shifted to a CAD 4 billion gap from a CAD 5.9 billion surplus in the second quarter, the first deficit in a year. Despite record-high volumes, exports of energy products were down by CAD 4.2 billion due to a 16.1% decline in prices, the first decrease in exports of energy products since Q2 2020. At the same time, sales of consumer goods were down by CAD 2.3 billion, following a strong second quarter. Imports of goods rose by CAD 1.7 billion, mainly due to motor vehicles and parts. Also, the trade in services deficit rose by CAD 1.2 billion to reach CAD 5.7 billion and the investment income deficit was up by CAD 3 billion to CAD 4.2 billion, in the context of rising interest rates, with income payments rising by more than receipts. source: Statistics Canada

Current Account in Canada averaged -2691.92 CAD Million from 1946 until 2022, reaching an all time high of 12492.00 CAD Million in the fourth quarter of 2005 and a record low of -20035.00 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 February of 2023.

Current Account in Canada is expected to be -19000.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Current Account is projected to trend around -18211.00 CAD Million in 2024 and -17623.00 CAD Million in 2025, according to our econometric models.

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Canada Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-08-30 12:30 PM Q2 C$2.69B C$2.65B C$6.6B C$8.1B
2022-11-28 01:30 PM Q3 C$-11.1B C$2.65B C$2.1B
2023-02-27 01:30 PM Q4 C$-11.1B C$ -18B


Related Last Previous Unit Reference
Balance of Trade -40.00 130.00 CAD Million Nov 2022
Current Account -11101.00 2645.00 CAD Million Sep 2022
Current Account to GDP 0.10 -1.90 percent of GDP Dec 2021
Exports 64371.50 65893.30 CAD Million Nov 2022
Imports 64412.50 65763.20 CAD Million Nov 2022
External Debt 3441081.00 3274231.00 CAD Million Sep 2022
Terms of Trade 97.60 98.40 points Nov 2022
Capital Flows -14411.00 184.00 CAD Million Sep 2022
Foreign Direct Investment 16487.00 18971.00 CAD Million Sep 2022
Oil Exports 11662.80 11877.60 CAD Million Nov 2022
Tourist Arrivals 2029087.00 2515454.00 Sep 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
-11101.00 2645.00 12492.00 -20035.00 1946 - 2022 CAD Million Quarterly

News Stream
Canada Posts Biggest CA Gap in 2 Years
Canada recorded a current account deficit of CAD 11.1 billion in Q3 2022, the biggest gap since Q3 2020, and following surpluses in the first two quarters of 2022. The trade in goods and services balance shifted to a CAD 4 billion gap from a CAD 5.9 billion surplus in the second quarter, the first deficit in a year. Despite record-high volumes, exports of energy products were down by CAD 4.2 billion due to a 16.1% decline in prices, the first decrease in exports of energy products since Q2 2020. At the same time, sales of consumer goods were down by CAD 2.3 billion, following a strong second quarter. Imports of goods rose by CAD 1.7 billion, mainly due to motor vehicles and parts. Also, the trade in services deficit rose by CAD 1.2 billion to reach CAD 5.7 billion and the investment income deficit was up by CAD 3 billion to CAD 4.2 billion, in the context of rising interest rates, with income payments rising by more than receipts.
2022-11-28
Canada Current Account Surplus at 14-Year High
Canada’s current account surplus edged higher to CAD 2.692 billion in the second quarter of 2022 from the downwardly revised CAD 2.651 billion in the previous period, well below expectations of CAD 6.6 billion. It was the largest surplus in 14 years, predominantly due the widest goods surplus (CAD 12.5 billion) since the financial crisis of 2008, as surging prices for crude oil lifted Canadian goods exports, despite recording lower volumes. In the meantime, the investment income gap widened further to its highest since 2014 (CAD 4.6 billion), due to profits earned by foreign investors on Canadian energy assets. Meanwhile, the services gap widened to CAD 3.4 billion as Canadian tourists spent more when traveling abroad.
2022-08-30
Canada Current Account Surplus at Near 14-Year High
Canada recorded a current account surplus of CAD 5.03 billion in the first quarter of 2022, from the downwardly revised gap of CAD 0.14 billion in the previous quarter, surpassing market expectations of a CAD 3.2 billion surplus. It was the largest surplus in nearly 14 years, driven by the widest net positive goods account since the financial crisis of 2008 as surging prices for crude oil lifted Canadian goods exports, despite recording lower volumes. At the same time, the investment income surplus also considerably widened, as profits earned by Canadian direct investors on foreign assets went down. On the other hand, the services gap was seen higher, largely due to lower travel and transport surpluses, while the secondary income deficit slightly expanded.
2022-05-30