Canada recorded a Current Account deficit of 0.40 percent of the country's Gross Domestic Product in 2022. Current Account to GDP in Canada averaged -1.43 percent of GDP from 1980 until 2022, reaching an all time high of 2.70 percent of GDP in 2000 and a record low of -4.20 percent of GDP in 1981. source: Statistics Canada

Current Account to GDP in Canada is expected to reach -1.00 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Current Account to GDP is projected to trend around -1.20 percent of GDP in 2025 and -1.40 percent of GDP in 2026, according to our econometric models.

Related Last Previous Unit Reference
Balance of Trade 1391.60 608.30 CAD Million Feb 2024
Capital Flows 3966.00 -7870.00 CAD Million Dec 2023
Current Account -1618.00 -4740.00 CAD Million Dec 2023
Current Account to GDP -0.40 -0.30 percent of GDP Dec 2022
Exports 66624.10 62978.50 CAD Million Feb 2024
External Debt 4150252.00 3937375.00 CAD Million Dec 2023
Foreign Direct Investment 11343.00 20135.00 CAD Million Dec 2023
Imports 65232.50 62370.20 CAD Million Feb 2024
Oil Exports 10875.20 10498.30 CAD Million Feb 2024
Terms of Trade 101.50 104.00 points Feb 2024
Tourist Arrivals 1189366.00 1993965.00 Jan 2024

Canada Current Account to GDP
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.
Actual Previous Highest Lowest Dates Unit Frequency
-0.40 -0.30 2.70 -4.20 1980 - 2022 percent of GDP Yearly