Canada Current Account

Canada recorded a Current Account deficit of 12386 CAD Million in the first quarter of 2014. Current Account in Canada averaged -1672.18 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
-12386.00 -15644.00 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.


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.

The balance on international trade in goods posted a CAD 1.6 billion surplus in the first quarter of 2014, following a CAD 2.2 billion deficit in the previous quarter. On a geographical basis, the trade surplus with the United States widened by CAD 3.1 billion to CAD 13.2 billion on the strength of exports of energy products. The deficit with all other countries declined for a second consecutive quarter.

The deficit on international transactions in services increased by CAD 0.4 billion to CAD 6.3 billion in the first quarter. This was reflected in all three major categories of services. The surplus on commercial services was down by CAD 0.2 billion as imports increased by more than exports. Financial services advanced for both imports and exports. The deficit on international travel edged up by CAD 0.1 billion, mostly on higher expenses of Canadians travelling overseas. The transportation deficit also edged up by CAD 0.1 billion, reflecting higher payments on water transport of goods.

The deficit on cross border investment income edged down to CAD 6.6 billion in the first quarter. Increases in receipts exceeded payments in the quarter.

Statistics Canada | Isabel Felino | isabel.felino@tradingeconomics.com
5/29/2014 2:15:04 PM


Recent Releases

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

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


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


Trade Last Previous Highest Lowest Unit
Balance of Trade -151.90 -960.60 8524.80 -2902.90 CAD Million [+]
Exports 44167.50 42660.50 44538.30 1366.00 CAD Million [+]
Imports 44319.40 43463.20 44319.40 1112.00 CAD Million [+]
Current Account -12386.00 -15644.00 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 97.80 97.90 110.30 81.20 Index Points [+]
Foreign Direct Investment 322.00 -658.00 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 3595.00 3508.00 3595.00 955.00 BBL/D/1K [+]





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