Canada recorded a current account of CAD 5.03 billion in the first quarter of 2022, from the downwardly revised gap of CAD 0.14 billion in the previous quarter, surpassing market expectations of a CAD 3.2 billion surplus. It was the largest surplus in nearly 14 years, driven by the widest goods account surplus since the financial crisis of 2008, as surging prices for crude oil lifted Canadian goods exports, despite recording lower volumes of energy shipments. At the same time, the investment income also considerably widened, as profits earned by Canadian direct investors on foreign assets went down. On the other hand, the services gap was seen higher, largely due to lower travel and transport surpluses, while the secondary income deficit slightly expanded. source: Statistics Canada

Current Account in Canada averaged -2622.07 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 July of 2022.

Current Account in Canada is expected to be 2100.00 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.

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Canada Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-02-28 01:30 PM Q4 C$-0.8B C$0.81B C$2.3B C$0.9B
2022-05-30 12:30 PM Q1 C$5.03B C$-0.14B C$3.2B C$1.3B
2022-08-30 12:30 PM Q2 C$5.03B C$2.1B


Related Last Previous Unit Reference
Balance of Trade 1501.00 2282.00 CAD Million Apr 2022
Current Account 5026.00 -137.00 CAD Million Mar 2022
Current Account to GDP 0.10 -1.90 percent of GDP Dec 2021
Exports 64312.20 63948.40 CAD Million Apr 2022
Imports 62811.00 61666.70 CAD Million Apr 2022
External Debt 3213412.00 3334890.00 CAD Million Mar 2022
Terms of Trade 109.30 108.10 points Apr 2022
Foreign Direct Investment 20113.00 19439.00 CAD Million Mar 2022
Capital Flows 7058.00 3488.00 CAD Million Mar 2022
Oil Exports 11447.60 13240.70 CAD Million Apr 2022
Tourist Arrivals 761360.00 560300.00 Dec 2021

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).
Actual Previous Highest Lowest Dates Unit Frequency
5026.00 -137.00 12492.00 -20035.00 1946 - 2022 CAD Million Quarterly

News Stream
Canada Current Account Surplus at Near 14-Year High
Canada recorded a current account surplus of CAD 5.03 billion in the first quarter of 2022, from the downwardly revised gap of CAD 0.14 billion in the previous quarter, surpassing market expectations of a CAD 3.2 billion surplus. It was the largest surplus in nearly 14 years, driven by the widest net positive goods account since the financial crisis of 2008 as surging prices for crude oil lifted Canadian goods exports, despite recording lower volumes. At the same time, the investment income surplus also considerably widened, as profits earned by Canadian direct investors on foreign assets went down. On the other hand, the services gap was seen higher, largely due to lower travel and transport surpluses, while the secondary income deficit slightly expanded.
2022-05-30
Canada Current Account Unexpectedly Swings to Deficit
Canada posted a current account deficit of CAD 0.8 billion in the fourth quarter of 2021, from the downwardly revised surplus of CAD 0.81 billion in the previous quarter and compared to market expectations of a CAD 2.3 billion surplus. It was the first current account gap in one year, reflected by a deterioration in the investment income balance which posted its first gap in over two years. In addition, the secondary income deficit expanded from the previous quarter as government transfers eased. On the other hand, the goods and services balance remained in a surplus, as exports of goods continued to increase largely due to energy products and motor vehicles, while the deficit in services slightly narrowed from higher exports of financial and IT services.
2022-02-28
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