Canada posted a current account surplus of CAD 1.4 billion in the third quarter of 2021, the same value as the downwardly revised reading in the previous quarter. Prior to 2021, Canada had continuous current account deficits from the fourth quarter of 2008 until the end of 2020. The surplus reflected a positive change in the goods account, largely offset by a decline in the investment income surplus. The goods balance was positive for the third consecutive quarter, led by higher prices for energy products, while imports of motor vehicles slightly increased but remained lower than pre-pandemic levels, due to the semiconductor chip shortage. At the same time, the services deficit narrowed due to a lower travel surplus and a widened transport deficit, as the number of Canadian and foreign tourists reached the highest level since the pandemic due to lower pandemic related restrictions. source: Statistics Canada

Current Account in Canada averaged -2645.07 CAD Million from 1946 until 2021, 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 December of 2021.

Current Account in Canada is expected to be -1800.00 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 -4600.00 CAD Million in 2022 and -15600.00 CAD Million in 2023, according to our econometric models.

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Canada Current Account


Calendar GMT Actual Previous Consensus TEForecast
2021-08-30 12:30 PM Q2 C$3.58B C$1.82B C$1.85B C$-6B
2021-11-29 01:30 PM Q3 C$1.37B C$1.37B C$4.8B C$5.2B
2022-02-28 01:30 PM Q4 C$1.37B


Related Last Previous Unit Reference
Balance of Trade 1858.00 1508.70 CAD Million Sep/21
Current Account 1369.00 1368.00 CAD Million Sep/21
Current Account to GDP -1.90 -2.10 percent of GDP Dec/20
Exports 52999.80 54256.40 CAD Million Sep/21
Imports 51141.80 52747.70 CAD Million Sep/21
External Debt 3074252.00 3036227.00 CAD Million Jun/21
Terms of Trade 98.10 98.00 points Sep/21
Foreign Direct Investment 18182.00 13881.00 CAD Million Sep/21
Capital Flows -3318.00 -19.00 CAD Million Sep/21
Tourist Arrivals 671662.00 600982.00 Sep/21
Oil Exports 8957.00 8424.40 CAD Million Sep/21

News Stream
Canada Records 3rd Straight Current Account Surplus
Canada posted a current account surplus of CAD 1.4 billion in the third quarter of 2021, the same value as the downwardly revised reading in the previous quarter. Prior to 2021, Canada had continuous current account deficits from the fourth quarter of 2008 until the end of 2020. The surplus reflected a positive change in the goods account, largely offset by a decline in the investment income surplus. The goods balance was positive for the third consecutive quarter, led by higher prices for energy products, while imports of motor vehicles slightly increased but remained lower than pre-pandemic levels, due to the semiconductor chip shortage. At the same time, the services deficit narrowed due to a lower travel surplus and a widened transport deficit, as the number of Canadian and foreign tourists reached the highest level since the pandemic due to lower pandemic related restrictions.
2021-11-29
Canada Records 2nd Straight Current Account Surplus
Canada posted a current account surplus of CAD 3.6 billion in the second quarter of 2021, following a CAD 1.8 million surplus in the first quarter. Prior to 2021, Canada had continuous current account deficits from the fourth quarter of 2008 until the end of 2020. The surplus mostly reflected a positive trade in goods and services balance and a higher investment income surplus. The goods balance posted a second consecutive surplus, led by exports of goods due to higher prices. Also, the services balance remained in an unusual surplus position in the context of the COVID-19 pandemic, which affected travel payments more severely than receipts. Travel receipts and payments remained at historical lows in Canada's current account as restrictions in the second quarter were still in force.
2021-08-30
Canada Posts CA Surplus for 1st Time in 13 Years
Canada's posted a CAD 1.2 billion current account surplus in the first quarter after recording a CAD 5.3 billion deficit in the fourth quarter of 2020. This was the first surplus since the third quarter of 2008, mostly reflecting the first positive trade in goods and services balance since 2008, which was partially offset by a lower investment income surplus. The goods balance posted a slight surplus, while the services balance remained in an unusual surplus position in the context of the COVID-19 pandemic. In comparison, the last surplus, observed in the third quarter of 2008, reflected a much stronger goods surplus, moderated by a services deficit to which travel services were the main contributor.
2021-05-31

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).