The current account deficit in Canada decreased to 1.90 percent of GDP n 2020 from 2.10 percent in 2019. source: Statistics Canada

Current Account to GDP in Canada averaged -1.48 percent from 1980 until 2020, reaching an all time high of 2.70 percent in 2000 and a record low of -4.20 percent in 1981. This page provides - Canada Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Current Account to GDP - values, historical data and charts - was last updated on November of 2021.

Current Account to GDP in Canada is expected to reach 0.60 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Current Account to GDP is projected to trend around 0.10 percent of GDP in 2022 and -0.70 percent of GDP in 2023, according to our econometric models.

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Canada Current Account to GDP

Related Last Previous Unit Reference
Balance of Trade 1858.00 1508.70 CAD Million Sep/21
Current Account 3581.00 1815.00 CAD Million Jun/21
Current Account to GDP -1.90 -2.10 percent of GDP Dec/20
Imports 51141.80 52747.70 CAD Million Sep/21
Exports 52999.80 54256.40 CAD Million Sep/21
External Debt 3074252.00 3036227.00 CAD Million Jun/21
Terms of Trade 98.10 98.00 points Sep/21
Capital Flows 1905.00 2891.00 CAD Million Jun/21
Foreign Direct Investment 12017.00 21386.00 CAD Million Jun/21
Tourist Arrivals 671662.00 600982.00 Sep/21
Oil Exports 8957.00 8424.40 CAD Million Sep/21
Canada Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.