Canada Current Account 1946-2014 | Data | Chart | Calendar | Forecast

Canada recorded a Current Account deficit of 8401 CAD Million in the third quarter of 2014. Current Account in Canada averaged -1686.35 CAD Million from 1946 until 2014, reaching an all time high of 12223 CAD Million in the fourth quarter of 2005 and a record low of -19565 CAD Million in the third quarter of 2010. Current Account in Canada is reported by the Statistics Canada.

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Canada Current Account


Actual Previous Highest Lowest Dates Unit Frequency
-8401.00 -9907.00 12223.00 -19565.00 1946 - 2014 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. Content for - Canada Current Account - was last refreshed on Friday, December 19, 2014.


Canada Current Account Deficit at 6-Year Low


Canada's seasonally adjusted current account deficit narrowed by CAD 1.5 billion in the third quarter of 2014 to CAD 8.4 billion from a revised CAD 9.91 billion deficit in the previous period. This reduction reflected a higher goods surplus and lower services and investment income deficits.

The balance on international trade in goods expanded by CAD 0.6 billion to CAD 2.9 billion in the third quarter, a third straight surplus following eight quarters of deficits. On a geographical basis, the surplus with the United States was down by CAD 1.5 billion to CAD 12.8 billion, as imports increased more than exports. Lower prices on energy products dampened the value of exports to the United States in the quarter. This was more than offset by changes in the goods balances with non-US countries.

Total exports of goods rose CAD 1.9 billion to CAD 135.0 billion, despite a decline in energy products. The largest gain was in the metal and non-metallic mineral products category (up CAD 1.3 billion), led by higher volumes of precious metals. Motor vehicles and parts, aircraft, other transportation equipment and parts as well as consumer goods were all up CAD 0.4 billion on higher volumes. Exports of energy products declined by CAD 1.1 billion, as prices of crude petroleum were down but volumes continued to expand.

Overall imports of goods were up CAD 1.3 billion to CAD 132.1 billion in the quarter. Metal and non-metallic mineral products increased CAD 0.5 billion, with higher volumes of precious metals accounting for half of the gain. Imports of energy products were up CAD 0.4 billion on higher volumes of crude petroleum and refined petroleum products. Volumes of natural gas imports declined in the third quarter from their peak in the previous quarter.

The deficit on international transactions in services narrowed CAD 0.2 billion in the third quarter to CAD 5.7 billion. This mainly reflected a lower travel deficit. Lower spending by Canadians travelling in the United States was the main factor behind the CAD 0.2 billion decline in the travel deficit, which reached CAD 4.4 billion. The transport services deficit edged down in the quarter, as receipts were up more than payments.

Cross-border foreign direct investment activity resulted in a net inflow of funds in the third quarter, as foreign direct investment in Canada outpaced Canadian direct investment abroad for a fourth straight quarter.

Foreign direct investment in Canada reached CAD 17.2 billion, the highest level since the second quarter of 2013. Funds injected into existing Canadian subsidiaries accounted for most of the investment, as inflows from cross-border mergers and acquisitions slowed. On an industry basis, foreign direct investment in the country was mainly directed to the energy and mining as well as the manufacturing sectors.

Statistics Canada | Carolina Cunha | carolina.cunha@tradingeconomics.com
11/27/2014 2:52:18 PM


Recent Releases

Canada Current Account Deficit Almost Unchanged in Q2
Canada's seasonally adjusted current account deficit was largely unchanged in the second quarter of 2014, edging down $0.2 billion to $11.9 billion. This reflected a slight increase in the deficit on trade in goods and services, which was more than offset by a lower investment income deficit. Published on 2014-08-28

Canada Current Account Deficit Narrows in Q1
Canada's seasonally adjusted current account gap declined to CAD 12.4 billion in the first quarter of 2014 from a CAD 15.6 billion deficit in the previous quarter, as the trade balance posted its first surplus since the end of 2011. Published on 2014-05-29


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-05-29 01:30 PM
Current Account  Q1
CAD -12.4B CAD -15.6B (R) CAD -13.0B CAD -15.3B
2014-08-28 01:30 PM
Current Account  Q2
CAD -11.9B CAD -12.0B (R) CAD -12.0B CAD -13.6B
2014-11-27 01:30 PM
Current Account  Q3
CAD -8.4B CAD -9.91B (R) CAD -11.0B CAD -11.3B
2015-03-02 01:30 PM
Current Account  Q4
CAD -8.4B CAD -6.9B
2015-05-29 01:30 PM
Current Account  Q1
CAD -5.8B
2015-08-28 01:30 PM
Current Account  Q2
CAD -5.9B


Canada Trade Last Previous Highest Lowest Unit
Balance of Trade 100.00 310.00 8524.80 -2902.90 CAD Million [+]
Exports 44916.90 44894.00 45537.80 1366.00 CAD Million [+]
Imports 44818.00 44586.00 44818.00 1112.00 CAD Million [+]
Current Account -8401.00 -9907.00 12223.00 -19565.00 CAD Million [+]
Current Account to GDP -3.20 -3.40 2.70 -4.20 percent [+]
External Debt 611.88 609.39 611.88 15.00 CAD Billion [+]
Terms of Trade 96.40 96.40 110.30 81.20 Index Points [+]
Foreign Direct Investment 1951.00 2978.00 3406.00 -2013.00 CAD Million [+]
Capital Flows -4.00 -2.00 19.00 -672.00 CAD Million [+]
Gold Reserves 2.99 2.99 46.19 2.99 Tonnes [+]
Crude Oil Production 3408.00 3508.00 3595.00 955.00 BBL/D/1K [+]


Current Account Reference Previous Highest Lowest Unit
Australia -12525.00 Aug/14 -13948.00 295.00 -20891.00 AUD Million [+]
Brazil -8130.00 Oct/14 -7907.00 3068.40 -11529.50 USD Million [+]
Canada -8401.00 Aug/14 -9907.00 12223.00 -19565.00 CAD Million [+]
China 815.00 Aug/14 734.41 1330.85 -8.96 USD Hundred Million [+]
Euro Area 31.00 Sep/14 17.40 32.91 -26.95 EUR Billion [+]
France -909.00 Oct/14 -1178.00 4784.00 -7197.00 EUR Million [+]
Germany 23100.00 Oct/14 23700.00 23700.00 -9353.00 EUR Million [+]
India -7.80 May/14 -1.20 7.36 -31.86 USD Billion [+]
Indonesia -6835.90 Aug/14 -8689.00 3795.00 -10133.00 USD Million [+]
Italy 5460.00 Oct/14 636.00 19332.70 -11387.00 EUR Million [+]
Japan 833.40 Oct/14 963.00 3360.40 -1586.10 JPY Billion [+]
Mexico -2702.33 Aug/14 -7653.81 2173.78 -7908.41 USD Million [+]
Netherlands 16974.80 May/14 19255.10 22035.80 -2389.10 EUR Million [+]
Russia 11400.00 Aug/14 14120.00 39494.00 -3637.00 USD Million [+]
South Korea 9010.00 Oct/14 7410.00 11107.90 -3756.80 USD Million [+]
Spain 439.00 Sep/14 1290.00 3072.00 -12219.92 EUR Million [+]
Switzerland 14872.19 May/14 14334.58 28384.74 -7228.00 CHF million [+]
Turkey -2030.00 Oct/14 -2224.00 1132.00 -9460.00 USD Million [+]
United Kingdom -23096.00 May/14 -20500.00 2752.00 -23519.00 GBP Million [+]
United States -100255.00 Aug/14 -98417.00 9957.00 -216063.00 USD Million [+]