Canada Current Account  1946-2018 | Data | Chart | Calendar | Forecast

Canada's current account deficit decreased by CAD 2.2 billion to $16.3 billion in the fourth quarter of 2017, mainly due to a lower goods deficit. For the year 2017, the current account deficit reached CAD 63.9 billion, which was CAD 1.4 billion less than the deficit in 2016. Current Account in Canada averaged -2393.72 CAD Million from 1946 until 2017, reaching an all time high of 12230 CAD Million in the fourth quarter of 2005 and a record low of -20197 CAD Million in the third quarter of 2010.

Canada Current Account
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Canada Current Account Deficit Narrows in Q4

Canada's current account deficit decreased by CAD 2.2 billion to CAD 16.3 billion in the fourth quarter of 2017, mainly due to a lower goods deficit. For the year 2017, the current account deficit reached CAD 63.9 billion, which was CAD 1.4 billion less than the deficit in 2016.

The goods deficit narrowed by CAD 1.9 billion to CAD 7.2 billion in the fourth quarter of 2017, after three consecutive increases. Considering full 2017, the goods deficit recorded CAD 23.9 billion, easing from a record deficit of CAD 25.9 billion in 2016.

On a geographical basis, the goods deficit with non-US countries increased by CAD 0.7 billion to a record CAD 17.6 billion in the fourth quarter, as trade balances deteriorated with the European Union countries and China, moderated by lower deficits with Japan and Mexico. Meantime, the surplus with the United States rose by CAD 2.6 billion to CAD 10.5 billion.

Total exports of goods advanced by CAD 6.4 billion to CAD 137.7 billion in the last quarter of 2017, following a drop of CAD 10.7 billion in the previous quarter. Exports of energy products increased by CAD 2.8 billion, mainly on higher crude petroleum prices. Total exports of goods were up CAD 28.0 billion in 2017, mainly due to stronger exports of energy products.

Total imports of goods widened by CAD 4.5 billion to CAD 144.9 billion. Imports of energy products rose CAD 1.2 billion as prices of crude petroleum increase. Aircraft and other transportation equipment and parts advanced CAD 1.2 billion, mostly on higher imports of aircraft. For 2017, imports grew by CAD 26.1 billion.

The non-goods deficit narrowed by CAD 0.4 billion to CAD 9.2 billion in the fourth quarter. Higher profits on Canadian direct investment abroad contributed the most to this decline. The deficit on investment income fell by CAD 0.8 billion to CAD 1.5 billion. Profits earned by Canadian direct investors went up CAD 1.7 billion. This was partially offset by higher income earned by foreign investors, both direct and portfolio, on their financial assets in Canada. The overall deficit on international trade in services rose by CAD 0.3 billion to reach CAD 6.5 billion. For the year 2017, the services deficit increased by CAD 1.8 billion to CAD 25.1 billion, mostly due to higher payments of financial services, namely with the United Kingdom, and transport services with non-US countries. Despite a record number of foreign tourists during the year, the travel deficit advanced in 2017 as spending by Canadians travelling abroad was higher than receipts from non-residents travelling to Canada.

Statistics Canada | Stefanie Moya |
3/1/2018 2:01:35 PM

Calendar GMT Actual Previous Consensus TEForecast
2017-08-30 12:30 PM Current Account C$-16.3B C$-12.9B C$-17.4B C$-14.5B
2017-11-30 01:30 PM Current Account C$-19.4B C$-15.6B C$-19.5B C$ -16.8B
2018-03-01 01:30 PM Current Account C$-16.4B C$-18.6B C$-17.8B C$ -19B
2018-05-30 12:30 PM Current Account C$-16.4B C$-17.8B C$ -15.5B
2018-08-29 12:30 PM Current Account C$ -14.9B
2018-11-29 01:30 PM Current Account C$ -14.9B

Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -4139.60 -2932.30 8524.80 -4139.60 CAD Million [+]
Exports 47584.00 45869.10 48359.40 1366.00 CAD Million [+]
Imports 51723.60 48801.50 51723.60 1112.00 CAD Million [+]
Current Account -16346.00 -18589.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.00 -3.30 2.70 -4.20 percent [+]
External Debt 631.90 615.99 631.90 14.82 CAD Billion [+]
Terms of Trade 93.30 92.70 110.30 81.20 Index Points [+]
Foreign Direct Investment 8333.00 13777.00 50326.00 -8640.00 CAD Million [+]
Capital Flows 0.00 -25.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.19 0.00 Tonnes [+]
Crude Oil Production 3949.00 3918.00 4249.00 955.00 BBL/D/1K [+]
Terrorism Index 2.96 2.52 3.00 0.65 [+]
Tourist Arrivals 1542507.00 1479351.00 7006165.00 1138895.00 [+]
Weapons Sales 87.00 144.00 469.00 38.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category

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). This page provides - Canada Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Current Account - actual data, historical chart and calendar of releases - was last updated on May of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-16346.00 -18589.00 12230.00 -20197.00 1946 - 2017 CAD Million Quarterly

current account by Country
Country Last
Australia -14024.00 Dec/17
Brazil 620.00 Apr/18
Canada -16346.00 Dec/17
China -282.00 Mar/18
Euro Area 40.55 Mar/18
France -1269.00 Mar/18
Germany 29100.00 Mar/18
India -13465.11 Dec/17
Indonesia -5500.00 Mar/18
Italy 3408.00 Mar/18
Japan 3122.30 Mar/18
Mexico -3206.60 Dec/17
Netherlands 20903.90 Dec/17
Russia 28800.00 Mar/18
South Korea 5180.00 Mar/18
Spain -450.00 Feb/18
Switzerland 19679.42 Dec/17
Turkey -4812.00 Mar/18
United Kingdom -18443.00 Dec/17
United States -128158.00 Dec/17