Canada Current Account  1946-2017 | Data | Chart | Calendar | Forecast

Canada current account gap narrowed CAD 9 billion to CAD 10.7 billion in the fourth quarter of 2016 from an upwardly revised CAD 19.8 billion in the previous period, but above market expectations of CAD 9.8 billion deficit. It was the lowest current account gap recorded since third quarter of 2011 as the goods balance posted its first surplus in more than two years. For the year 2016, the current account deficit edged up CAD 0.1 billion to CAD 67.7 billion. Current Account in Canada averaged -2188.85 CAD Million from 1946 until 2016, reaching an all time high of 12230 CAD Million in the fourth quarter of 2005 and a record low of -20197 CAD Million in the third quarter of 2010.

Canada Current Account
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-08-30 12:30 PM Q2 C$-19.9B C$-16.6B C$-20.5B C$-16.5B
2016-11-29 01:30 PM Q3 C$-18.3B C$-19B C$-16.8B C$-16.1B
2017-03-01 01:30 PM Q4 C$-10.7B C$-19.8B C$-9.8B C$ -10B
2017-05-30 12:30 PM Q1 C$-10.7B C$ -11.4B
2017-08-30 12:30 PM Q2 C$ -12B
2017-11-30 01:30 PM Q3 C$ -12.9B




Canada Current Account Gap Narrows Sharply in Q4


Canada current account gap narrowed CAD 9 billion to CAD 10.7 billion in the fourth quarter of 2016 from an upwardly revised CAD 19.8 billion in the previous period, but above market expectations of CAD 9.8 billion deficit. It was the lowest current account gap recorded since third quarter of 2011 as the goods balance posted its first surplus in more than two years.

The balance on the international trade in goods posted a $0.8 billion surplus in the fourth quarter, following an $8.6 billion deficit the previous quarter. Total exports of goods rose $6.3 billion to $136.5 billion in the fourth quarter. Energy products, led by crude petroleum, were the major contributor with exports up $4.7 billion on higher prices and, to a lesser extent, higher volumes. Total imports of goods were down $3.1 billion to $135.8 billion. Industrial machinery, equipment and parts recorded the largest reduction, down $2.7 billion. This followed a high in the third quarter, with activity dominated by the import of a large module for the Hebron offshore oil project in Newfoundland and Labrador. 

On a geographical basis, the goods surplus with the United States, led by stronger exports of energy products, increased $3.7 billion to $12.0 billion in the fourth quarter. Meanwhile, the deficit with non-US countries narrowed by $5.7 billion to $11.2 billion, mainly on record exports.

The overall deficit on international trade in services remained at $5.5 billion in the fourth quarter.In the fourth quarter, the travel deficit was unchanged at $3.6 billion. Receipts and payments rose as both the number of international overnight travellers visiting Canada and the number of Canadians travelling abroad for one or more nights increased. In the fourth quarter, the travel deficit was unchanged at $3.6 billion. Receipts and payments rose as both the number of international overnight travellers visiting Canada and the number of Canadians travelling abroad for one or more nights increased.

The investment income deficit, the difference between incomes generated on Canada's international assets and liabilities, increased $0.5 billion to $4.8 billion in the fourth quarter. Profits earned by foreign direct investors on their Canadian assets were up $1.3 billion to their highest level since the end of 2014. On the receipt side, profits earned by Canadian direct investors on their assets abroad increased by $1.1 billion. Higher income payments on foreign holdings of Canadian securities, both equity and debt securities, also contributed to the increase in the deficit in the fourth quarter.

For the year 2016, the current account deficit edged up $0.1 billion to $67.7 billion. The goods deficit was up $2.9 billion to a record $25.9 billion, mainly due to decline by $3.6 billion in exports as energy products continued to fall. By contrast, imports edged down by $0.7 billion. The services deficit narrowed $2.4 billion to $22.1 billion on a lower travel deficit. Spending by foreign travellers in Canada increased by $2.9 billion.

Statistics Canada | Deborah Neves | deborah.neves@tradingeconomics.com
3/1/2017 2:15:45 PM



Canada Trade Last Previous Highest Lowest Unit
Balance of Trade 806.90 447.50 8524.80 -4147.70 CAD Million [+]
Exports 46450.40 46213.20 46450.40 1366.00 CAD Million [+]
Imports 45643.50 45765.70 47673.00 1112.00 CAD Million [+]
Current Account -10726.00 -18299.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.30 -2.30 2.70 -4.20 percent [+]
External Debt 615.99 612.33 615.99 14.82 CAD Billion [+]
Terms of Trade 90.70 91.10 110.30 81.20 Index Points [+]
Foreign Direct Investment 9741.00 7030.00 50326.00 -8640.00 CAD Million [+]
Capital Flows 0.00 -40.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.19 0.00 Tonnes [+]
Crude Oil Production 3721.00 3757.00 3912.00 955.00 BBL/D/1K [+]
Weapons Sales 312.00 254.00 469.00 38.00 USD Million [+]
Terrorism Index 2.52 2.30 3.00 0.65 [+]
Tourist Arrivals 2025995.00 1647833.00 7006165.00 1138895.00 [+]



Canada Current Account Notes

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). This page provides - Canada Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Current Account - actual data, historical chart and calendar of releases - was last updated on March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-10726.00 -18299.00 12230.00 -20197.00 1946 - 2016 CAD Million Quarterly



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