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

Canada current account gap narrowed CAD 0.7 billion to CAD 18.299 billion in the third quarter of 2016 from a downwardly revised CAD 19 billion in the previous period. Goods shortfall declined by CAD 2.7 billion to CAD 8.3 billion, following record deficit of $11.1 billion in the second quarter, as exports saw the highest growth since the first quarter of 2014. The deficit on international trade in services edged down CAD 0.2 billion to CAD 5.3 billion, mostly led by a lower travel gap. In contrast, primary income deficit increased CAD 1.6 billion to CAD 3.9 billion, mainly driven by higher investment income gap. Current Account in Canada averaged -2158.69 CAD Million from 1946 until 2016, reaching an all time high of 12230.00 CAD Million in the fourth quarter of 2005 and a record low of -20197.00 CAD Million in the third quarter of 2010.

Canada Current Account
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
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$-18.3B C$-19B C$-16.8B C$-16.1B
2017-02-28 01:30 PM Q4 -18181.24
2017-05-30 12:30 PM Q1 -17659.36
2017-08-30 12:30 PM Q2 -17144.86




Canadian Current Account Gap Narrows In Q3


Canada current account gap narrowed CAD 0.7 billion to CAD 18.299 billion in the third quarter of 2016, following three straight quarterly increases.

The deficit on international trade in goods narrowed CAD 2.7 billion to CAD 8.3 billion, following a record gap of CAD 11.1 billion in the second quarter. Exports increased by CAD 5.9 billion to CAD 130.1 billion. It was the highest growth since the first quarter of 2014. mainly driven by energy products sales (+CAD 2.3 billion). In addition, exports of metal and non-metallic mineral products increased by CAD 1.0 billion, mostly from higher prices. Consumer goods were up CAD 0.7 billion on higher volumes, following a CAD 1.6 billion reduction in the second quarter. Total imports rose CAD 3.2 billion to CAD 138.4 billion. The largest increase was in industrial machinery, equipment and parts, up CAD 2.6 billion on higher volumes. Energy products and motor vehicles and parts also contributed to the gain, with both categories posting a CAD 0.5 billion rise in the quarter. In contrast, aircraft and other transportation equipment and parts fell CAD 1.4 billion on lower volumes, following a CAD 0.9 billion increase in the previous quarter.

On a geographical basis, the goods surplus with the United States increased CAD 3.1 billion to CAD 8.4 billion, led by stronger exports of energy products. In contrast, the deficit with non-US countries rose CAD 0.4 billion to CAD 16.8 billion, mostly reflecting a large import of industrial machinery, equipment and parts from South Korea destined for the Hebron offshore oil project in Newfoundland and Labrador.

The overall deficit on international trade in services edged down CAD 0.2 billion to CAD 5.3 billion in the third quarter. This was the sixth consecutive quarterly reduction in the services deficit, mostly led by a lower travel deficit. The travel deficit was down CAD 0.1 billion to CAD 3.5 billion, as non-residents increased their spending in Canada as a result of more visits. This was partially offset by larger payments made by Canadians travelling abroad. The travel deficit has diminished by CAD 1.3 billion since the first quarter of 2015.

The investment income deficit increased CAD 1.6 billion to CAD 3.5 billion. Profits earned by foreign direct investors on their Canadian assets were up CAD 1.4 billion, nearly returning to 2015 year-end levels. Meanwhile, profits earned by Canadian direct investors on their assets abroad were largely unchanged.
Payments on foreign holdings of Canadian securities increased CAD 0.3 billion, following a decline in the second quarter. Revenues from holdings of foreign securities were up by CAD 0.1 billion.

Statistics Canada | Yekaterina Guchshina | yekaterina@tradingeconomics.com
11/29/2016 1:59:44 PM



Canada Trade Last Previous Highest Lowest Unit
Balance of Trade -1130.00 -4375.00 8524.80 -4375.00 CAD Million [+]
Exports 43576.30 43354.20 45928.20 1366.00 CAD Million [+]
Imports 44706.30 47729.60 47729.60 1112.00 CAD Million [+]
Current Account -18299.00 -19017.00 12230.00 -20197.00 CAD Million [+]
Current Account to GDP -3.30 -2.30 2.70 -4.20 percent [+]
External Debt 615.99 612.33 615.99 14.82 CAD Billion [+]
Terms of Trade 89.40 89.60 110.30 81.20 Index Points [+]
Foreign Direct Investment 7030.00 12937.00 50326.00 -8640.00 CAD Million [+]
Capital Flows -40.00 0.00 4632.00 -672.00 CAD Million [+]
Gold Reserves 0.00 0.00 46.19 0.00 Tonnes [+]
Crude Oil Production 3854.00 3652.00 3912.00 955.00 BBL/D/1K [+]
Terrorism Index 2.52 2.30 3.00 0.65 [+]
Tourist Arrivals 3078069.00 4020786.00 7006165.00 1138895.00 [+]
Weapons Sales 312.00 254.00 469.00 38.00 USD Million [+]



Canada 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). 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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
-18299.00 -19017.00 12230.00 -20197.00 1946 - 2016 CAD Million Quarterly



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