Canada's current account deficit narrowed to CAD 3.2 billion in Q3 2024, down from an upwardly revised CAD 4.7 billion in Q2 and far below market expectations of a CAD 9.3 billion deficit. Investment income surplus surged to CAD 4.2 billion from CAD 1.6 billion, driven by higher profits from Canadian direct investments abroad. Meanwhile, the goods account deficit was slightly higher at CAD 3.6 billion from CAD 3.5 billion, and the services account surplus contracted to CAD 0.5 billion from CAD 2 billion. Foreign investors acquired CAD 49.8 billion in Canadian bonds during the quarter, while foreign direct investment in Canada eased to CAD 27.1 billion from a robust CAD 41.6 billion in the prior quarter. source: Statistics Canada

Canada recorded a Current Account deficit of 3200 CAD Million in the third quarter of 2024. Current Account in Canada averaged -2718.78 CAD Million from 1946 until 2024, reaching an all time high of 12492.00 CAD Million in the fourth quarter of 2005 and a record low of -20035.00 CAD Million in the third quarter of 2010. This page provides - Canada Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Current Account - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.

Canada recorded a Current Account deficit of 3200 CAD Million in the third quarter of 2024. Current Account in Canada is expected to be -4800.00 CAD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Current Account is projected to trend around -3000.00 CAD Million in 2025 and -4000.00 CAD Million in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-08-29 12:30 PM
Current Account
Q2 C$-8.5B C$-5.4B C$-5.9B C$-5.6B
2024-11-28 01:30 PM
Current Account
Q3 C$-3.2B C$-4.7B C$-9.3B C$-9.0B
2025-02-27 01:30 PM
Current Account
Q4 C$-3.2B C$-4.5B


Related Last Previous Unit Reference
Balance of Trade -320.00 -544.30 CAD Million Nov 2024
Capital Flows -7631.00 -5762.00 CAD Million Sep 2024
Current Account -3200.00 -4700.00 CAD Million Sep 2024
Current Account to GDP -0.60 -0.40 percent of GDP Dec 2023
Exports 66106.20 64681.80 CAD Million Nov 2024
External Debt 4284337.00 4195735.00 CAD Million Sep 2024
Foreign Direct Investment 27107.00 41641.00 CAD Million Sep 2024
Imports 66429.40 65226.10 CAD Million Nov 2024
Oil Exports 11370.80 10853.30 CAD Million Nov 2024
Terms of Trade 102.80 102.60 points Nov 2024
Tourist Arrivals 2252283.00 2882158.00 Oct 2024

Canada Current Account
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).
Actual Previous Highest Lowest Dates Unit Frequency
-3200.00 -4700.00 12492.00 -20035.00 1946 - 2024 CAD Million Quarterly


News Stream
Canada Current Account Deficit Narrows in Q3
Canada's current account deficit narrowed to CAD 3.2 billion in Q3 2024, down from an upwardly revised CAD 4.7 billion in Q2 and far below market expectations of a CAD 9.3 billion deficit. Investment income surplus surged to CAD 4.2 billion from CAD 1.6 billion, driven by higher profits from Canadian direct investments abroad. Meanwhile, the goods account deficit was slightly higher at CAD 3.6 billion from CAD 3.5 billion, and the services account surplus contracted to CAD 0.5 billion from CAD 2 billion. Foreign investors acquired CAD 49.8 billion in Canadian bonds during the quarter, while foreign direct investment in Canada eased to CAD 27.1 billion from a robust CAD 41.6 billion in the prior quarter.
2024-11-28
Canada Q2 Current Account Deficit Highest in 7 Quarters
Canada's current account deficit widened significantly to CAD 8.5 billion in Q2 2024, up from CAD 5.4 billion in the previous quarter and surpassing market expectations of a CAD 5.9 billion deficit. This marks the eighth consecutive quarterly deficit and the largest in seven quarters. The widening deficit was driven by a goods deficit of CAD 2.2 billion, up from a near-balanced position in Q1, while the services deficit narrowed to CAD 3.2 billion from CAD 4.3 billion. Additionally, the investment income balance turned to a slight deficit of CAD 0.6 billion, following a surplus of CAD 1.3 billion in the first quarter, as profits from Canadian direct investments abroad fell. In contrast, foreign investors earned a record CAD 18.3 billion from Canadian bonds. Foreign direct investment in Canada surged to CAD 38.5 billion, rebounding from a rare divestment in Q1.
2024-08-29
Canada Q1 Current Account Gap Smaller than Expected
Canada’s current account deficit widened to CAD 5.4 billion in the first quarter of 2024 from CAD 4.5 billion in the previous period, slightly below market expectations of CAD 5.5 billion. This marks the seventh consecutive deficit. The increase was primarily due to the goods balance shifting from a surplus to a deficit, despite improvements in services, investment income, and transfers balances. The goods balance moved to a CAD 1.1 billion deficit, while the services deficit narrowed to CAD 3.6 billion, driven by higher commercial services exports. The investment income surplus grew by CAD 1.1 billion to CAD 1.6 billion. Canadian investors set a record in foreign bond acquisitions, and foreign investors acquired significant Canadian bonds but reduced their short-term debt and portfolio shares holdings. Foreign direct investment saw Canadian investments abroad rise sharply, while foreign investors withdrew CAD 6.2 billion from Canada, the first divestment in 14 years.
2024-05-30