Canada Current Account  1946-2017 | Data | Chart | Calendar | Forecast

Canada's current account gap increased to CAD 16.3 billion in second quarter of 2017 from a downwardly revised CAD 12.9 billion in the previous period, lower than market expectations of a CAD 17.4 billion shortfall. The goods deficit widened as imports rose the most in nine years, led by motor vehicles and parts. Current Account in Canada averaged -2282.36 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 Gap Widens Less than Expected


Canada's current account gap increased to CAD 16.3 billion in second quarter of 2017 from a downwardly revised CAD 12.9 billion in the previous period, lower than market expectations of a CAD 17.4 billion shortfall. The goods deficit widened as imports rose the most in nine years, led by motor vehicles and parts.

The goods balance posted a CAD 5.2 billion deficit, following a CAD 2 billion deficit. Total exports of goods rose CAD 4.4 billion to CAD 143.3 billion. Metal and non-metallic mineral products, led by precious metals, were up CAD 1.4 billion and motor vehicles and parts advanced CAD 1.3 billion due to stronger exports of passenger cars and light trucks. Moderating these gains was a decline in exports of energy products of CAD 0.7 billion, as lower crude petroleum prices more than offset higher volumes. Total imports of goods were up CAD 7.7 billion to CAD 148.5 billion in the second quarter, the largest quarterly growth in nine years, with widespread gains throughout commodity sectors. Among the largest rises, consumer goods rose CAD 1.2 billion due to higher prices and motor vehicles products saw a record increase of CAD 1.0 billion, namely parts.

On a geographical basis, the goods surplus with the United States was reduced by CAD 1.5 billion to CAD 10.4 billion, after three straight quarters of increases. Meanwhile, the deficit with non-US countries increased CAD 1.8 billion, mainly reflecting a higher deficit with China.

The services deficit narrowed CAD 0.2 billion to CAD 5.5 billion, as the commercial services trade surplus was higher. Imports of commercial services edeged down CAD 0.1 billion while exports were up. For transport services, receipts and payments both increased by CAD 0.2 billion. Receipts and payments on travel services were both up slightly. There was lower spending by Canadians travelling to the United States in the quarter, but higher payments on visits to other countries.

The investment income deficit, the difference between incomes generated on Canada's international assets and liabilities, grew CAD 0.5 billion to CAD 4.6 billion in the second quarter. Interest and dividend paid to non-residents on their holdings of Canadian securities were up CAD 0.7 billion, led by higher payments on corporate bonds. There were also higher interest payments on loans and deposits held in Canada by non-residents. On the receipts side, profits earned by Canadian direct investors on their assets abroad were up CAD 0.6 billion, moderating the overall increase in the investment income deficit in the quarter.

Statistics Canada | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
8/30/2017 1:41:12 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-03-01 01:30 PM Current Account C$-10.7B C$-19.8B C$-9.8B C$ -10B
2017-05-30 12:30 PM Current Account C$-14.1B C$-11.8B C$-12B C$ -11.4B
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$-16.3B C$ -16.8B


Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -3413.40 -2982.60 8524.80 -4256.70 CAD Million [+]
Exports 43629.80 44051.00 48786.90 1366.00 CAD Million [+]
Imports 47043.20 47033.70 50104.20 1112.00 CAD Million [+]
Current Account -16319.00 -12921.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.30 -3.40 2.70 -4.20 percent [+]
External Debt 615.99 612.33 615.99 14.82 CAD Billion [+]
Terms of Trade 90.40 90.40 110.30 81.20 Index Points [+]
Foreign Direct Investment 223.00 11576.00 50326.00 -8640.00 CAD Million [+]
Capital Flows 0.00 -51.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.19 0.00 Tonnes [+]
Crude Oil Production 3729.00 3614.00 4107.00 955.00 BBL/D/1K [+]
Weapons Sales 127.00 357.00 469.00 38.00 USD Million [+]
Terrorism Index 2.52 2.30 3.00 0.65 [+]
Tourist Arrivals 4531101.00 3696985.00 7006165.00 1138895.00 [+]

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 October of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-16319.00 -12921.00 12230.00 -20197.00 1946 - 2017 CAD Million Quarterly




current account by Country

Last
Australia -9562.00 Jun/17
Brazil -302.50 Aug/17
Canada -16319.00 Jun/17
China 508.87 Jun/17
Euro Area 32.50 Jul/17
France -1468.00 Aug/17
Germany 17800.00 Aug/17
India -14300.00 Jun/17
Indonesia -4962.50 Jun/17
Italy 8625.00 Jul/17
Japan 2380.40 Aug/17
Mexico -321.10 Jun/17
Netherlands 15416.30 Jun/17
Russia 1200.00 Sep/17
South Korea 6061.10 Aug/17
Spain 2977.00 Jul/17
Switzerland 18748.00 Jun/17
Turkey -1237.00 Aug/17
United Kingdom -23182.00 Jun/17
United States -123137.00 Jun/17