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.
Current Account in Canada averaged -2592.29 CAD Million from 1946 until 2019, 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 April of 2020. source: Statistics Canada
Current Account in Canada is expected to be -12000.00 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 -16000.00 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.