Current Account in Canada

Canada Current Account | Economic News & Forecasts

Canada - Current Account

Growth softened in the third quarter on the back of a contraction in exports. Domestic demand, however, accelerated due to a surge in fixed investment and stronger private consumption growth amid solid wage gains. Turning to the fourth quarter, growth appears broadly steady. On the one hand, the unemployment rate ticked up to an over one-year high in November while housing starts ebbed compared to Q3, hinting at softer residential investment. More positively, the manufacturing PMI hit a nine-month high in November amid faster output growth. Meanwhile, in politics, the USMCA deal recently moved closer to coming into force after being approved by the U.S. House, boding well for investment and the external sector going forward.

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 Yield1.701.00 %Dec 31
Exchange Rate1.300.15 %Jan 01

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