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

Canada recorded a Current Account deficit of 11871 CAD Million in the second quarter of 2014. Current Account in Canada averaged -1669 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.

   
 
 

Canada Current Account


Actual Previous Highest Lowest Dates Unit Frequency
-11871.00 -12029.00 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 Sunday, October 26, 2014.


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.

The balance on international trade in goods posted a $1.7 billion surplus in the second quarter, down $0.1 billion from the previous quarter. Both exports and imports strengthened during the quarter. On a geographical basis, the trade surplus with the United States increased by $1.0 billion to $14.5 billion as exports reached a record level. The trade deficit with other countries expanded, led by a higher deficit with European Union countries.

Total exports of goods increased by $3.9 billion to a record $132.3 billion in the second quarter. Exports of motor vehicles and parts led the growth, up by $1.9 billion. This increase largely reflected stronger volumes of passenger cars and light trucks sold abroad, mainly in the United States.
Farm, fishing and intermediate food products were up $0.7 billion to $8.1 billion, with higher volumes of canola accounting for half of the increase. Forestry products rose $0.6 billion to $9.3 billion on higher volumes of lumber and pulp and paper. This was the highest such level of exports since the third quarter of 2007.

Energy products were down $1.2 billion to $33.6 billion. Crude petroleum exports increased $2.0 billion on higher prices and volumes. Natural gas lost $2.4 billion, about two-thirds accounted for by lower prices following strong price gains in previous quarters.

Overall imports of goods increased $4.0 billion to $130.7 billion. Imports of motor vehicle and parts were up $1.6 billion to $22.7 billion as cars, trucks, and parts all increased on higher volumes. Consumer goods advanced $1.2 billion to $26.8 billion, with gains widespread across several commodities. Chemical, plastic and rubber products increased $1.0 billion on stronger volumes. Energy products declined $0.8 billion to $10.8 billion, mainly on lower volumes of crude petroleum and refined petroleum products. Imports of natural gas increased by $0.4 billion to a record high $1.7 billion.

The deficit on international transactions in services edged up $0.1 billion to $6.3 billion in the second quarter. The surplus on commercial services was unchanged at $0.9 billion, as both receipts and payments advanced.

The deficit on cross-border investment income flows was down $0.5 billion to $5.8 billion in the second quarter, as receipts were up by more than payments.

Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
8/28/2014 1:53:13 PM


Recent Releases

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

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. Published on 2014-02-27


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
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 -12.4B CAD -15.6B (R) CAD -13.0B CAD -15.3B
2014-08-28 01:30 PM Canada
Current Account
Q2 2014 CAD -11.9B CAD -12.0B (R) CAD -12.0B CAD -13.6B
2014-11-27 01:30 PM Canada
Current Account
Q3 2014 CAD -11.9B CAD -11B


Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -610.00 2200.00 8524.80 -2902.90 CAD Million [+]
Exports 44200.00 45537.80 45537.80 1366.00 CAD Million [+]
Imports 44800.00 42957.10 44800.00 1112.00 CAD Million [+]
Current Account -11871.00 -12029.00 12223.00 -19565.00 CAD Million [+]
Current Account to GDP -3.20 -3.40 2.70 -4.20 Percent [+]
External Debt 602.44 583.58 602.44 15.00 CAD Billion [+]
Terms of Trade 98.30 97.90 110.30 81.20 Index Points [+]
Foreign Direct Investment 2742.00 475.00 3406.00 -2013.00 CAD Million [+]
Capital Flows -2.00 -4.00 19.00 -672.00 CAD Million [+]
Gold Reserves 2.99 2.99 46.19 2.99 Tonnes [+]
Crude Oil Production 3458.00 3386.00 3595.00 955.00 BBL/D/1K [+]