Canada recorded a Current Account deficit of 0.60 percent of the country's Gross Domestic Product in 2023. Current Account to GDP in Canada averaged -1.43 percent of GDP from 1980 until 2023, reaching an all time high of 2.60 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.