Canada recorded a current account deficit of CAD 6.2 billion in the first quarter of 2023, smaller than market forecasts of CAD 8.85 billion and a downwardly revised CAD 8.1 billion in the previous period. The investment income deficit fell (CAD -0.9 billion vs CAD -3.4 billion in Q4), with the primary income deficit shrinking to CAD 2.4 billion from CAD 4.9 billion in Q4, as profits earned by Canadian direct investors abroad rose by CAD 2.5 billion, while those earned by foreign direct investors in Canada were up CAD 1.9 billion. Also, the secondary income shortfall decreased significantly to CAD 0.4 billion from CAD 1.2 billion. On the other hand, the goods and services shortfall widened to CAD 3.4 billion from CAD 2 billion in Q4, as the services deficit rose to CAD 4.7 billion from CAD 4 billion; while the goods surplus fell to USD 1.3 billion from CAD 2.1 billion. source: Statistics Canada

Current Account in Canada averaged -2699.54 CAD Million from 1946 until 2023, reaching an all time high of 12492.00 CAD Million in the fourth quarter of 2005 and a record low of -20035.00 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 August of 2023.

Current Account in Canada is expected to be -8000.00 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 -15211.00 CAD Million in 2024 and -14623.00 CAD Million in 2025, according to our econometric models.

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Canada Current Account



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-02-27 01:30 PM Q4 C$-10.64B C$-8.41B C$-10.9B C$ -18.0B
2023-05-30 12:30 PM Q1 C$-6.17B C$-8.05B C$-8.85B C$ -11.0B
2023-08-31 12:30 PM Q2 C$-6.17B C$-11.2B C$ -9.0B


Related Last Previous Unit Reference
Balance of Trade -3731.90 -2680.10 CAD Million Jun 2023
Current Account -6166.00 -8053.00 CAD Million Mar 2023
Current Account to GDP -0.40 -0.30 percent of GDP Dec 2022
Imports 64427.90 64733.50 CAD Million Jun 2023
Exports 60696.00 62053.40 CAD Million Jun 2023
External Debt 3587795.00 3584981.00 CAD Million Mar 2023
Terms of Trade 93.90 93.50 points Jun 2023
Foreign Direct Investment 23938.00 16650.00 CAD Million Mar 2023
Capital Flows -4777.00 -3784.00 CAD Million Mar 2023
Tourist Arrivals 3332607.00 2377181.00 Jun 2023
Oil Exports 8858.60 8851.70 CAD Million Jun 2023

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
-6166.00 -8053.00 12492.00 -20035.00 1946 - 2023 CAD Million Quarterly

News Stream
Canada Q1 Current Account Gap Smaller than Expected
Canada recorded a current account deficit of CAD 6.2 billion in the first quarter of 2023, smaller than market forecasts of CAD 8.85 billion and a downwardly revised CAD 8.1 billion in the previous period. The investment income deficit fell (CAD -0.9 billion vs CAD -3.4 billion in Q4), with the primary income deficit shrinking to CAD 2.4 billion from CAD 4.9 billion in Q4, as profits earned by Canadian direct investors abroad rose by CAD 2.5 billion, while those earned by foreign direct investors in Canada were up CAD 1.9 billion. Also, the secondary income shortfall decreased significantly to CAD 0.4 billion from CAD 1.2 billion. On the other hand, the goods and services shortfall widened to CAD 3.4 billion from CAD 2 billion in Q4, as the services deficit rose to CAD 4.7 billion from CAD 4 billion; while the goods surplus fell to USD 1.3 billion from CAD 2.1 billion.
2023-05-30
Canada Records Sharpest CA Gap in 2 Years
Canada recorded a seasonally adjusted current account deficit of CAD 10.64 billion in the fourth quarter of 2022, the widest since the third quarter of 2020, and increasing from the CAD 8.42 billion gap in the previous period. The sharper deficit was a reflection of the deterioration in the investment income balance (CAD -5.28 billion vs -2.55 billion), widening the country’s primary income deficit (CAD -6.77 billion vs CAD -4 billion) as profits earned by foreign direct investors jumped by nearly CAD 1 billion to CAD 18.5 billion), while profits earned by Canadian direct investors abroad deteriorated. On top of that, the goods surplus narrowed (CAD 1.67 billion vs 2.47 billion) due to lower energy prices. On the other hand, the services gap also narrowed (CAD -4.45 billion vs CAD -6.64 billion).
2023-02-27
Canada Posts Biggest CA Gap in 2 Years
Canada recorded a current account deficit of CAD 11.1 billion in Q3 2022, the biggest gap since Q3 2020, and following surpluses in the first two quarters of 2022. The trade in goods and services balance shifted to a CAD 4 billion gap from a CAD 5.9 billion surplus in the second quarter, the first deficit in a year. Despite record-high volumes, exports of energy products were down by CAD 4.2 billion due to a 16.1% decline in prices, the first decrease in exports of energy products since Q2 2020. At the same time, sales of consumer goods were down by CAD 2.3 billion, following a strong second quarter. Imports of goods rose by CAD 1.7 billion, mainly due to motor vehicles and parts. Also, the trade in services deficit rose by CAD 1.2 billion to reach CAD 5.7 billion and the investment income deficit was up by CAD 3 billion to CAD 4.2 billion, in the context of rising interest rates, with income payments rising by more than receipts.
2022-11-28