Current Account in Canada

Canada Current Account | Economic News & Forecasts

Canada - Current Account

After almost screeching to a halt in the final quarter of last year, growth gained some impetus in Q1 but remained limp nonetheless. The external sector dragged on the economy amid falling exports and higher imports. However, domestic demand surged, driven by an uptick in private consumption growth and a rebound in gross fixed capital formation. In Q2, the economy should be shifting into a higher gear. Boding well for residential investment, the housing market looks to have stabilized somewhat: Prices ticked up and home sales rose in May, while average housing starts were higher than in Q1. Moreover, the unemployment rate dipped to a multi-decade low in May, which should be supporting private consumption. However, the manufacturing PMI is in negative territory. In politics, in mid-June the government approved a pipeline expansion in Alberta, which should bolster the energy sector ahead.

Canada - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-3.2  -2.4  -3.5  -3.2  -2.8  

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Canada Current Account Chart

Canada Current Account
Note: Current account balance as % of GDP.
Source: Statistics Canada and FocusEconomics calculations.

Canada Facts

Bond Yield1.581.00 %Jul 10
Exchange Rate1.310.15 %Jul 11
Stock Market16,5280.23 %Jul 11

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