Canada Current Account 1946-2015 | Data | Chart | Calendar | Forecast

Canada recorded a Current Account deficit of 13917 CAD Million in the fourth quarter of 2014. Current Account in Canada averaged -1748.75 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
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Actual Previous Highest Lowest Dates Unit Frequency
-13917.00 -9600.00 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 Thursday, May 7, 2015.


Canada Current Account Deficit Widens in Q4


Canada's seasonally adjusted current account gap expanded by CAD 4.3 billion in the fourth quarter of 2014 to reach CAD 13.9 billion from a revised CAD 9.6 billion shortfall in the previous quarter. This change mainly reflected the deterioration of the trade in goods balance, mostly due to lower crude oil prices.

The balance on international trade in goods recorded a CAD 2.0 billion deficit in the fourth quarter, following a CAD 2.9 billion surplus in the previous quarter. This was the first deficit since the fourth quarter of 2013. Nevertheless, for 2014 as a whole, the balance on goods expanded by CAD 12.1 billion to reach a surplus of CAD 4.9 billion.

Overall, the total exports of goods declined by CAD 3.4 billion to reach CAD 131.8 billion in the fourth quarter, led by a reduction in energy products. Exports of energy products were down CAD 4.2 billion, largely on lower prices for crude petroleum. Farm, fishing and intermediate food products were down CAD 1.1 billion with lower volumes of canola and wheat. Metal and non-metallic mineral products were up CAD 0.7 billion on higher volumes, mainly aluminum products and precious metals.

Total imports of goods were up CAD 1.5 billion to CAD 133.8 billion in the quarter. Consumer goods advanced CAD 0.7 billion on higher prices. Motor vehicles and parts increased CAD 0.6 billion on higher volumes of cars and a combination of stronger volumes and prices for parts. Metal and non-metallic mineral products rose CAD 0.5 billion, led by higher volumes of precious metals. These gains were partially offset by a CAD 1.0 billion reduction in imports of energy products, mostly from lower prices of crude petroleum.

The deficit on international transactions in services narrowed by CAD 0.1 billion in the fourth quarter to CAD 5.5 billion. This was in line with the surplus on commercial services expanding by CAD 0.1 billion, on stronger receipts. The travel and transportation deficits were largely unchanged.

The investment income deficit shrank by CAD 0.4 billion to CAD 5.7 billion. Profits earned in Canada by foreign direct investors were down by more than those earned abroad by Canadian direct investors. Earnings on both portfolio assets and liabilities continued to advance in the quarter.

For the year 2014, the current account deficit narrowed by CAD 12.8 billion to reach CAD 43.5 billion, in line with a strengthened goods balance. In the financial account, most of the inflows of funds from abroad were the results of transactions in the other investment category. In contrast to recent years, foreign direct and portfolio investment contributed minimally to the net cross-border inflow of funds.

Statistics Canada | Carolina Cunha | carolina.cunha@tradingeconomics.com
3/2/2015 1:55:22 PM


Recent Releases

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. Published on 2014-11-27

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


Calendar GMT Event Reference Actual Previous Consensus Forecast (i)
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 -13.92B CAD -9.6B (R) CAD -12.5B CAD -7.2B
2015-05-29 01:30 PM
Current Account 
Q1 CAD -13.92B CAD -6.4B
2015-08-28 01:30 PM
Current Account 
Q2 CAD -6.5B
2015-11-27 01:30 PM
Current Account 
Q3 CAD -7.3B


Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -3019.00 -2215.00 8524.80 -3019.00 CAD Million [+]
Exports 42497.00 42333.00 45537.80 1366.00 CAD Million [+]
Imports 45516.00 44547.00 45516.00 1112.00 CAD Million [+]
Current Account -13917.00 -9600.00 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 14.82 CAD Billion [+]
Terms of Trade 96.10 93.80 110.30 81.20 Index Points [+]
Foreign Direct Investment 17690.00 16293.00 50740.00 -8173.00 CAD Million [+]
Capital Flows -14.00 -4.00 19.00 -672.00 CAD Million [+]
Gold Reserves 2.99 2.99 46.19 2.99 Tonnes [+]
Crude Oil Production 3678.00 3704.00 3717.00 955.00 BBL/D/1K [+]


Current Account Reference Previous Highest Lowest Unit
Australia -9588.00 Nov/14 -12130.00 295.00 -20882.00 AUD Million [+]
Brazil -5736.00 Mar/15 -6878.70 3068.40 -11529.50 USD Million [+]
Canada -13917.00 Nov/14 -9600.00 12223.00 -19565.00 CAD Million [+]
China 670.21 Nov/14 721.76 1330.85 -8.96 USD Hundred Million [+]
Euro Area 13.80 Feb/15 8.30 35.20 -26.95 EUR Billion [+]
France -1750.00 Feb/15 -284.00 4784.00 -5401.00 EUR Million [+]
Germany 16645.19 Feb/15 15900.00 25600.00 -9353.00 EUR Million [+]
India -8226.25 Nov/14 -10105.90 7360.00 -31857.20 USD Million [+]
Indonesia -6180.60 Nov/14 -6835.90 3795.00 -10133.00 USD Million [+]
Italy 3593.60 Feb/15 45.40 19332.70 -10633.40 EUR Million [+]
Japan 1440.10 Feb/15 61.00 3360.40 -1586.10 JPY Billion [+]
Mexico -5310.13 Nov/14 -2702.33 2173.77 -8988.85 USD Million [+]
Netherlands 12480.20 Nov/14 16767.00 22454.00 -2389.10 EUR Million [+]
Russia 23542.00 Feb/15 15389.00 39286.00 -3637.00 USD Million [+]
South Korea 10390.00 Mar/15 6440.00 11320.00 -3756.80 USD Million [+]
Spain -2034.00 Feb/15 -426.00 4025.00 -12368.00 EUR Million [+]
Switzerland 17343.31 Nov/14 11088.70 28384.74 -7228.00 CHF million [+]
Turkey -3200.00 Feb/15 -2002.00 1132.00 -9460.00 USD Million [+]
United Kingdom -25302.00 Nov/14 -27664.00 2693.00 -27664.00 GBP Million [+]
United States -113451.00 Nov/14 -98919.00 9957.00 -216063.00 USD Million [+]