Canada Current Account Records Largest Surplus Since 2005

2026-08-27 12:41 By Larissa Caser 1 min. read

Canada's current account balance swung to a surplus of C$8.8 billion in the second quarter of 2026 from a deficit of C$8.3 billion in the prior quarter, marking the first surplus since the second quarter of 2022 and the largest since the last quarter of 2005.

The result also missed expectations for a C$2 billion shortfall.

Strong gains in goods exports, led by energy products, moved the trade in goods balance from a deficit to a large surplus of C$12.2 billion, being the main contributor in the shift.

Imports of goods increased as well, but at a slower pace than exports.

By contrast, the services surplus declined sharply to C$26 million, while the primary income deficit widened to C$2.6 billion reflecting higher interest on debt securities.

The secondary income deficit also widened sharply to C$782 million, driven by higher private transfers and lower government transfers.



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Canada Current Account Records Largest Surplus Since 2005
Canada's current account balance swung to a surplus of C$8.8 billion in the second quarter of 2026 from a deficit of C$8.3 billion in the prior quarter, marking the first surplus since the second quarter of 2022 and the largest since the last quarter of 2005. The result also missed expectations for a C$2 billion shortfall. Strong gains in goods exports, led by energy products, moved the trade in goods balance from a deficit to a large surplus of C$12.2 billion, being the main contributor in the shift. Imports of goods increased as well, but at a slower pace than exports. By contrast, the services surplus declined sharply to C$26 million, while the primary income deficit widened to C$2.6 billion reflecting higher interest on debt securities. The secondary income deficit also widened sharply to C$782 million, driven by higher private transfers and lower government transfers.
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