The current account deficit in Canada widened to CAD 7.5 billion in the third quarter of 2020 from a downwardly revised CAD 7 billion in the previous period but came much smaller than market forecasts of a CAD 9.1 billion gap. A larger deficit in trade in goods and services was moderated by a higher investment income surplus in the quarter. Overall, both exports and imports of goods increased significantly in the third quarter but were still below pre-pandemic levels. Goods imports were up by a record CAD 30.0 billion to CAD 144.9 billion, mainly due to motor vehicles and parts. International travel services remained considerably low as travel restrictions continued to be in force. Also, the primary income surplus increased by CAD 0.4 billion to CAD 1.7 billion due to a higher investment income surplus. source: Statistics Canada

Current Account in Canada averaged -2656.35 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 January of 2021.

Current Account in Canada is expected to be -9000.00 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 -14200.00 in 12 months time. In the long-term, the Canada Current Account is projected to trend around -15800.00 CAD Million in 2021 and -15600.00 CAD Million in 2022, according to our econometric models.

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Canada Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-7528.00 -6998.00 12492.00 -20035.00 1946 - 2020 CAD Million Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-27 01:30 PM Q4 C$-8.76B C$-10.86B C$-9B C$-9.4B
2020-05-28 12:30 PM Q1 C$-11.1B C$-9.3B C$-10B C$-12B
2020-08-27 12:30 PM Q2 C$-8.6B C$-13.2B C$-12.2B C$-12.5B
2020-11-30 01:30 PM Q3 C$-7.5B C$-7B C$-9.1B C$-10B
2021-03-01 01:30 PM Q4 C$-7.5B
2021-05-31 12:30 PM Q1
2021-08-30 12:30 PM Q2
2021-11-29 01:30 PM Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Canada Current Account Deficit Much Lower than Forecasts
The current account deficit in Canada widened to CAD 7.5 billion in the third quarter of 2020 from a downwardly revised CAD 7 billion in the previous period but came much smaller than market forecasts of a CAD 9.1 billion gap. A larger deficit in trade in goods and services was moderated by a higher investment income surplus in the quarter. Overall, both exports and imports of goods increased significantly in the third quarter but were still below pre-pandemic levels. Goods imports were up by a record CAD 30.0 billion to CAD 144.9 billion, mainly due to motor vehicles and parts. International travel services remained considerably low as travel restrictions continued to be in force. Also, the primary income surplus increased by CAD 0.4 billion to CAD 1.7 billion due to a higher investment income surplus.
2020-11-30
Canada Current Account Gap Narrows More than Expected
Canada's current account deficit narrowed to CAD 8.6 billion in the second quarter of 2020 from an upwardly revised CAD 13.2 billion in the prior period and compared with market consensus of a CAD 12.2 billion shortfall. The goods and services gap decreased by CAD 5.3 billion to CAD 7.9 billion, as the goods deficit fell by CAD 1 billion to CAD 7.7 billion as exports fell by an unprecedented CAD 33.2 billion to CAD 106.9 billion and imports were down by a record CAD 34.2 billion to CAD 114.5 billion. The services shortfall dropped to CAD 0.2 billion from CAD 4.5 billion in Q1, mainly due to the slower activity in the tourism sector, resulting from the COVID-19 pandemic and related travel restrictions in force, which reduced the number of cross-border travellers. In addition, the secondary income deficit narrowed to CAD 1 billion from CAD 1.2 billion. Meanwhile, the primary income surplus went down by CAD 0.9 billion to CAD 0.2 billion, mostly due to a lower investment income surplus.
2020-08-27
Canada Current Account Gap Widens in Q1
Canada's current account deficit rose to CAD 11.1 billion in the first quarter of 2020 from an upwardly revised CAD 9.3 billion in the previous period and compared with market expectations of a CAD 10 billion shortfall. The goods and services deficit rose by CAD 1.3 billion to CAD 9.8 billion in the first quarter, the highest deficit in a year, while the services deficit expanded by CAD 0.3 billion to CAD 5.9 billion.,as commercial services surplus shrank CAD 0.4 billion. Meantime, the primary income deficit decreased to CAD 0.21 billion from CAD 0.67 billion in the prior period, while the secondary income gap rose to CAD 1.16 billion from CAD 0.13 billion.
2020-05-28
Canada Current Account Gap Narrows in Q4
Canada's current account deficit narrowed by CAD 2.1 billion to CAD 8.76 billion in the last quarter of 2019 from an upwardly revised CAD 10.86 billion in the previous period and compared with market expectations of a CAD 9.0 billion gap. The goods and services shortfall decreased to CAD 8.26 billion from CAD 8.54 billion in Q3, as the goods deficit fell to CAD 3.14 billion from CAD 4.14 billion; while the services gap widened to USD 5.11 billion from CAD 4.40 billion. Additionally, the primary income deficit decreased to CAD 0.39 billion from CAD 1.05 billion in the prior period; and the secondary income gap went down to CAD 0.11 billion from CAD 1.28 billion. Considering full 2019, the current account deficit stood at CAD 45.4 billion, down CAD 10.1 billion from 2018, its lowest shortfall since 2008, when the country posted a current account surplus.
2020-02-27

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).