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. source: Statistics Canada

Current Account in Canada averaged -2640.84 CAD Million from 1946 until 2021, 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 May of 2022.

Current Account in Canada is expected to be -2000.00 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 -4600.00 CAD Million in 2023 and -15600.00 CAD Million in 2024, according to our econometric models.

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Canada Current Account



Calendar GMT Actual Previous Consensus TEForecast
2021-11-29 01:30 PM Q3 C$1.37B C$1.37B C$4.8B C$5.2B
2022-02-28 01:30 PM Q4 C$-0.8B C$0.81B C$2.3B C$0.9B
2022-05-30 12:30 PM Q1 C$-0.8B


Related Last Previous Unit Reference
Balance of Trade 2485.70 3080.90 CAD Million Mar 2022
Current Account -797.00 808.00 CAD Million Dec 2021
Current Account to GDP -1.90 -2.10 percent of GDP Dec 2020
Imports 61142.70 56757.60 CAD Million Mar 2022
Exports 63628.40 59838.50 CAD Million Mar 2022
External Debt 3334890.00 3251324.00 CAD Million Dec 2021
Terms of Trade 108.10 104.30 points Mar 2022
Capital Flows 3488.00 -3855.00 CAD Million Dec 2021
Foreign Direct Investment 19439.00 18182.00 CAD Million Dec 2021
Oil Exports 13240.70 10902.70 CAD Million Mar 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
-797.00 808.00 12492.00 -20035.00 1946 - 2021 CAD Million Quarterly

News Stream
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
Canada Records 2nd Straight Current Account Surplus
Canada posted a current account surplus of CAD 3.6 billion in the second quarter of 2021, following a CAD 1.8 million surplus in the first quarter. Prior to 2021, Canada had continuous current account deficits from the fourth quarter of 2008 until the end of 2020. The surplus mostly reflected a positive trade in goods and services balance and a higher investment income surplus. The goods balance posted a second consecutive surplus, led by exports of goods due to higher prices. Also, the services balance remained in an unusual surplus position in the context of the COVID-19 pandemic, which affected travel payments more severely than receipts. Travel receipts and payments remained at historical lows in Canada's current account as restrictions in the second quarter were still in force.
2021-08-30