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.