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. source: Statistics Canada

Current Account in Canada averaged -2612.47 CAD Million from 1946 until 2022, 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 October of 2022.

Current Account in Canada is expected to be 2144.00 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 550.00 CAD Million in 2023 and -4500.00 CAD Million in 2024, according to our econometric models.

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Canada Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-05-30 12:30 PM Q1 C$5.03B C$-0.14B C$3.2B C$1.3B
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$2.69B C$2.1B


Related Last Previous Unit Reference
Balance of Trade 4051.60 4881.40 CAD Million Jul 2022
Current Account 2690.00 2650.00 CAD Million Jun 2022
Current Account to GDP 0.10 -1.90 percent of GDP Dec 2021
Imports 64198.40 65345.20 CAD Million Jul 2022
Exports 68250.00 70226.60 CAD Million Jul 2022
External Debt 3239745.00 3213412.00 CAD Million Jun 2022
Terms of Trade 106.20 110.40 points Jul 2022
Capital Flows -435.00 7058.00 CAD Million Jun 2022
Foreign Direct Investment 24852.00 20113.00 CAD Million Jun 2022
Oil Exports 13385.90 13859.40 CAD Million Jul 2022
Tourist Arrivals 761360.00 560300.00 Dec 2021

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
2690.00 2650.00 12492.00 -20035.00 1946 - 2022 CAD Million Quarterly

News Stream
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
Canada Current Account Unexpectedly Swings to Deficit
Canada posted a current account deficit of CAD 0.8 billion in the fourth quarter of 2021, from the downwardly revised surplus of CAD 0.81 billion in the previous quarter and compared to market expectations of a CAD 2.3 billion surplus. It was the first current account gap in one year, reflected by a deterioration in the investment income balance which posted its first gap in over two years. In addition, the secondary income deficit expanded from the previous quarter as government transfers eased. On the other hand, the goods and services balance remained in a surplus, as exports of goods continued to increase largely due to energy products and motor vehicles, while the deficit in services slightly narrowed from higher exports of financial and IT services.
2022-02-28