Canada Current Account

Canada recorded a Current Account deficit of 16009 CAD Billion in the fourth quarter of 2013. Current Account in Canada is reported by the Statistics Canada. Current Account in Canada averaged -1650.68 CAD Billion from 1946 until 2013, reaching an all time high of 12223 CAD Billion in the fourth quarter of 2005 and a record low of -19565 CAD Billion in the third quarter of 2010. 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. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-16009.00 -14800.00 12223.00 -19565.00 -15309.88 | 2014/03 1946 - 2013 CAD Billion Quarterly

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Canada Current Account
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-05-30 01:30 PM Canada
Current Account
Q1 2013 CAD -14.1B CAD -14.6B (R) CAD -16.0B CAD -17.3B
2013-08-29 01:30 PM Canada
Current Account
Q2 2013 CAD -14.6B CAD -13.5B (R) CAD -15.0B CAD -11.4B
2013-11-28 01:30 PM Canada
Current Account
Q3 2013 CAD -15.47B CAD -15.92B (R) CAD -14.0B CAD -12.5B
2014-02-27 01:30 PM Canada
Current Account
Q4 2013 CAD -16.0B CAD -14.8B (R) CAD -17.0B CAD -15176.9B
2014-05-29 01:30 PM Canada
Current Account
Q1 2014 CAD -16.0B CAD -15309.9B
2014-08-28 01:30 PM Canada
Current Account
Q2 2014 CAD -15549B
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Trade Last Previous Highest Lowest Forecast Unit
Current Account -16009.00 2013-11-15 -14800.00 12223.00 -19565.00 -15309.88 2014-03-31 CAD Billion [+]
Capital Flows -2.00 2013-11-15 -4.00 19.00 -672.00 2.93 2014-03-31 CAD Million [+]
Crude Oil Production 3822.00 2013-12-15 3468.00 3822.00 955.00 Thousands Barrels per Day [+]
External Debt 602.44 2013-06-30 583.58 602.44 15.00 604.06 2013-12-31 CAD Billion [+]
Foreign Direct Investment 132.00 2013-11-15 -546.00 3406.00 -2013.00 -225.64 2014-03-31 CAD Million [+]
Gold Reserves 2.99 2013-12-31 3.05 46.19 2.99 Tonnes [+]
Terms Of Trade 98.60 2014-02-15 98.60 110.30 81.20 98.83 2014-03-31 Index Points [+]
Current Account to GDP -3.20 2013-12-31 -3.40 2.70 -4.20 -3.17 2014-06-30 Percent [+]
Balance of Trade 289.70 2014-02-15 -340.00 8524.80 -2902.90 -247.88 2014-03-31 CAD Million [+]
Exports 42346.90 2014-02-15 40867.90 44538.30 1366.00 42037.27 2014-03-31 CAD Million [+]
Imports 42057.20 2014-02-15 41204.60 42057.20 1112.00 41736.78 2014-03-31 CAD Million [+]
[+]


Canada's Current Account Deficit Widened in Q4

Canada's current account deficit increased by CAD 1.2 billion to CAD 16.0 billion in the fourth quarter of 2013. It is the highest deficit in the last five quarters, as exports fell due to lower crude oil prices and imports rose.

The deficit on international trade in goods widened CAD 1.4 billion to CAD 2.7 billion in the fourth quarter, as exports fell and imports moved higher. The trade surplus with the United States was down by CAD 3.3 billion on stronger imports (up CAD 2.4 billion) and weaker exports, both sides led by changes in crude petroleum. The narrowing in the deficit with the rest of the world had a moderating effect, as imports of crude petroleum were down CAD 1.6 billion.

The overall deficit on transactions in services narrowed CAD 0.3 billion to CAD 5.9 billion in the fourth quarter. Commercial services accounted for most of this activity. The surplus on commercial services rose CAD 0.3 billion led by higher exports, mainly from technical and other business services. However, the deficit on international travel edged up CAD 0.1 billion, largely reflecting the increase in the number of Canadians travelling abroad.

The deficit on cross border investment income was up CAD 0.3 billion to CAD 6.1 billion in the fourth quarter, with most of the changes related to foreign direct investment.

Statistics Canada | Isabel Felino | isabel.felino@tradingeconomics.com
2/27/2014 2:03:24 PM

RECENT RELEASES

Canada's Current Account Deficit Narrows in Q3
Canada's current account deficit (on a seasonally adjusted basis) decreased CAD 0.5 billion to CAD 15.5 billion in the third quarter of 2013. This change largely reflected reduced deficits on trade in goods and services as well as on investment income flows. Published on 2013-11-28

Canadian Current Account Deficit Widens In Q2
Canada's current account deficit (on a seasonally adjusted basis) increased $1.1 billion to $14.6 billion in the second quarter. This change was largely reflected in the trade balance, led by a higher deficit on trade in goods. Published on 2013-08-29


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). The balance of trade is typically the most important part of the current account. And a current account surplus is usually associated with trade surplus. However, for the few countries with substantial overseas assets or liabilities, net factor payments may be significant. Positive net sales to abroad generally contribute to a current account surplus as the value interest or dividends generated abroad is bigger than the value of interest or dividends generated from foreign capital in the country. Net transfer payments are very important part of the current account in poor and developing countries as workers' remittances, donations, aids and grants and official assistance may balance high trade deficits.


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