Current Account Balance in Canada
The current account balance in Canada averaged -2.2% of GDP in the decade to 2022, below the average for Major Economies of -0.5% of GDP. The 2022 reading was -0.3% of GDP. For more current account information, visit our dedicated page.
Canada Current Account Chart
Note: This chart displays Current Account (% of GDP) for Canada from 2014 to 2023.
Source: Macrobond.
Canada Current Account Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Current Account Balance (% of GDP) | -2.0 | -2.0 | 0.0 | -0.4 | -0.7 |
| Current Account Balance (USD bn) | -34.0 | -33.4 | 0.3 | -7.9 | -15.5 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Canadian current account projections for the next ten years from a panel of 22 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable current account forecast available for Canadian current account.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Canadian current account projections.
Want to get access to the full dataset of Canadian current account forecasts? Send an email to info@focus-economics.com.