Canada Current Account to GDP

Canada recorded a Current Account deficit of 3.20 percent of the country's Gross Domestic Product in 2013. Current Account to GDP in Canada is reported by the Statistics Canada. Current Account to GDP in Canada averaged -1.24 Percent from 1980 until 2013, reaching an all time high of 2.70 Percent in 2000 and a record low of -4.20 Percent in 1981. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - Canada Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-3.20 -3.40 2.70 -4.20 -3.17 | 2014/06 1980 - 2013 Percent Yearly

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Canada Current Account to GDP
LIST BY COUNTRY

Trade Last Previous Highest Lowest Forecast Unit
Current Account -16009.00 2013-11-15 -14800.00 12223.00 -19565.00 -15309.88 2014-03-31 CAD Billion [+]
Capital Flows -2.00 2013-11-15 -4.00 19.00 -672.00 2.93 2014-03-31 CAD Million [+]
Crude Oil Production 3822.00 2013-12-15 3468.00 3822.00 955.00 Thousands Barrels per Day [+]
External Debt 602.44 2013-06-30 583.58 602.44 15.00 604.06 2013-12-31 CAD Billion [+]
Foreign Direct Investment 132.00 2013-11-15 -546.00 3406.00 -2013.00 -225.64 2014-03-31 CAD Million [+]
Gold Reserves 2.99 2013-12-31 3.05 46.19 2.99 Tonnes [+]
Terms Of Trade 98.60 2014-02-15 98.60 110.30 81.20 98.83 2014-03-31 Index Points [+]
Current Account to GDP -3.20 2013-12-31 -3.40 2.70 -4.20 -3.17 2014-06-30 Percent [+]
Balance of Trade 289.70 2014-02-15 -340.00 8524.80 -2902.90 -247.88 2014-03-31 CAD Million [+]
Exports 42346.90 2014-02-15 40867.90 44538.30 1366.00 42037.27 2014-03-31 CAD Million [+]
Imports 42057.20 2014-02-15 41204.60 42057.20 1112.00 41736.78 2014-03-31 CAD Million [+]
[+]


Current Account to GDP | Notes
The Current account balance as a percent of GDP provides an indication on the level of international competiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.


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At its March 5th, 2014 meeting, Canada's central bank decided to leave the overnight rate unchanged at 1 percent, as widely expected, citing balanced risks to inflation, housing market and household debt.
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In the last three months of 2013, Canada’s GDP advanced 0.7 percent on a quarter-on-quarter basis, the same rate recorded in the preceding quarter. The annualized growth rate was recorded at 2.9 percent, better than 2.7 percent in the third quarter.
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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.
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