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Canada Current Account to GDP Ratio

Canada's current account deficit widened to -1% of its Gross Domestic Product (GDP) in 2024, the lowest level recorded since 2020. This deficit increased from -0.7% of GDP in 2023. The widening deficit stems from a weaker trade balance for goods and services. Canada's trade in goods balance shifted from a surplus of $0.6 billion in 2023 to a deficit of $6.9 billion in 2024. The services account deficit also widened, due to a lower surplus in travel services during 2024. Canada's record low current account to GDP was -4.2% in 1981 and its record high was 2.6% in 2000.

Yearly Historical Data (1980-2024)

(in %)
Year Current Account to GDP Ratio
2024 -1%
2023 -0.7%
2022 -0.4%
2021 0%
2020 -2%
2019 -2%
2018 -2.4%
2017 -2.8%
2016 -3.1%
2015 -3.5%
2014 -2.3%
2013 -3.1%
2012 -3.5%
2011 -2.7%
2010 -3.6%
2009 -2.9%
2008 0.1%
2007 0.8%
2006 1.4%
2005 1.9%
2004 2.3%
2003 1.2%
2002 1.7%
2001 2.2%
2000 2.6%
1999 0.2%
1998 -1.3%
1997 -1.3%
1996 0.4%
1995 -0.8%
1994 -2.4%
1993 -3.8%
1992 -3.6%
1991 -3.7%
1990 -3.4%
1989 -4%
1988 -3.1%
1987 -3.2%
1986 -3.1%
1985 -1.7%
1984 -0.5%
1983 -0.8%
1982 0.5%
1981 -4.2%
1980 -2.2%
Canada Current Account to GDP Ratio : Definition
Canada's current account to GDP shows the current account balance as a percentage of the country's gross domestic product. The current account including trade in goods/services, primary income and secondary income, is divided by GDP, then multiplied by 100.
Indicator Last Value Prior Value Period
Government Gross Debt to GDP 111% 108% Dec'24
Interest Rate 2.5% 2.75% Sep'25