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.