Canada Current Account  1946-2016 | Data | Chart | Calendar | Forecast

Canada current account gap widened 19.7 percent to CAD 19.862 billion in the three months to June of 2016 from the previous period. It is the biggest deficit since the third quarter of 2010 as the goods shortfall reached a record high, mainly due to lower motor vehicle sales. Current Account in Canada averaged -2068.48 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. Current Account in Canada is reported by the Statistics Canada.

Canada Current Account
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Actual Previous Highest Lowest Dates Unit Frequency
-19862.00 -16594.00 12230.00 -20197.00 1946 - 2016 CAD Million Quarterly
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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-29 01:30 PM Q4 C$-15.38B C$-15.3B C$-15.6B C$-15.4B
2016-05-30 12:30 PM Q1 C$-16.8B C$-15.7B C$-16.8B C$-20B
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$-19.9B C$-16.1B

Canada Current Account Deficit at Nearly 6-Year High


Canada current account gap widened 19.7 percent to CAD 19.862 billion in the three months to June of 2016 from the previous period. It is the biggest deficit since the third quarter of 2010 as the goods shortfall reached a record high, mainly due to lower motor vehicle sales.

The deficit on trade in goods expanded CAD 4.8 billion to a record CAD 11.3 billion. This was the third straight quarterly increase. Overall, exports of goods decreased CAD 6.6 billion to CAD 123.6 billion: sales of motor vehicles and parts were down CAD 2.3 billion on lower prices and volumes. Exports of consumer goods declined CAD 1.7 billion on lower volumes. In contrast, exports of energy products increased CAD 0.7 billion, as higher prices for crude oil and crude bitumen more than offset the decline in volumes exported. Total imports of goods decreased CAD 1.8 billion to CAD 134.8 billion. The largest reduction was in consumer goods, down CAD 1.0 billion on lower prices. Industrial machinery, equipment and parts also contributed to the decline, down CAD 0.9 billion as a result of lower prices and volumes. Moderating this decrease, energy products advanced CAD 1.2 billion, mostly on higher prices. Aircraft and other transportation equipment and parts gained CAD 0.8 billion, all on higher volumes.

On a geographical basis, the goods surplus with the United States declined CAD 2.5 billion to CAD 5.1 billion, mostly on lower exports. The deficit with non-US countries rose CAD 2.3 billion to CAD 16.4 billion, the largest contributors being the United Kingdom and, to a lesser extent, Japan and Algeria.

In contrast, the overall deficit in services narrowed CAD 0.3 billion to CAD 5.1 billion in the second quarter, the lowest deficit since the end of 2011. The investment income deficit was also reduced by CAD 0.6 billion to CAD 2.9 billion, as receipts rose more than payments. The gap in transactions on secondary income narrowed by CAD 0.7 billion. This largely reflected higher transfer receipts by Canadian insurance companies on reinsurance services provided by foreign insurers, following the Fort McMurray wildfire.

Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
8/30/2016 1:43:08 PM

Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -3632.40 -3504.20 8524.80 -3632.40 CAD Million [+]
Exports 41386.90 41151.50 46015.80 1366.00 CAD Million [+]
Imports 45019.30 44655.70 46899.00 1112.00 CAD Million [+]
Current Account -19862.00 -16594.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.30 -2.30 2.70 -4.20 percent [+]
External Debt 612.33 611.88 612.33 14.82 CAD Billion [+]
Terms of Trade 89.20 89.00 110.30 81.20 Index Points [+]
Foreign Direct Investment 13350.00 10457.00 50326.00 -8640.00 CAD Million [+]
Capital Flows -2.00 -53.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 1.70 2.99 46.19 1.70 Tonnes [+]
Crude Oil Production 2811.00 3639.00 3912.00 955.00 BBL/D/1K [+]
Terrorism Index 2.30 2.30 3.00 0.65 [+]
Tourist Arrivals 3487950.00 2582295.00 7006165.00 1138895.00 [+]
Weapons Sales 312.00 254.00 469.00 38.00 USD Million [+]




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