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For additional information relating to this article, please contact:

Doug McCann Research and Statistics Officer
Tel: 902-424-2141Email: Douglas.McCann@novascotia.ca

March 01, 2018
CANADA'S BALANCE OF INTERNATIONAL PAYMENTS 2017Q4 AND ANNUAL

 4th Quarter

 

In Canada 4th Quarter 2017 the seasonally adjusted current account deficit decreased $2.2 billion over the 3rd quarter 2017 to $16.3 billion.

                                                                     

In the 4th quarter 2017:

  • exports (receipts) of goods and services increased $6.9 billion to $166.2 billion, while imports (payments) of goods and services increased $5.3 billion to $179.9 billion. The resulting international goods and services trade deficit decreased $1.6 billion to $13.6 billion.
  • primary income receipts increased $2.2 billion to $30.9 billion, while payments increased $1.4 billion to $32.8 billion. The resulting international primary income deficit decreased $760 million to $2.0 billion.
  • secondary income receipts decreased $130 million to $3.1 billion, while payments decreased $45 million to $3.85 billion. The resulting international transfers deficit increased $85 million to $742 million.
  • with trade deficit decreasing ($1.6 bil); primary income deficit decreasing ($760 mil); and secondary income deficit increasing ($85 mil), the current account deficit decreased by $2.2 billion to $16.3 billion.

 

 

ANNUAL

 

In Canada 2017, the seasonally adjusted current account deficit decreased $1.4 billion over the 2016 to $63.9 billion.

 

TRADING PARTNERS

The current account reports the net balance of payments due between international trading partners. Imports of goods and services are compared to exports of goods and services. Incomes from employment and investments in another country are balanced against incomes from employment and investment in Canada by residents of another country. 

 


In Canada 2017, the seasonally adjusted current account deficit decreased $1.4 billion over 2016 to $63.9 billion.  The current account with the United States improved to a surplus of $1.953 billion over 2016, while the current account deficit with the rest of the world (non-US trading partners) increased to $65.882 billion, over 2016.

United States

In Canada 2017, the seasonally adjusted current account net trade surplus with the United States increased to $26.8 billion over 2016. The net goods surplus increased to $40.5 billion, while the net services deficit increased to $13.7 billion, over 2016.

In Canada 2017, the seasonally adjusted current account net primary income deficit with the United States increased to $28.3 billion over 2016. Primary income payments increased to $79 billion, while primary income receipts increased to $50.8 billion over 2016.

In Canada 2017, the seasonally adjusted current account net secondary income (transfers) surplus with the United States increased to $3.5 billion over 2016. Secondary income payments increased to $3.9 billion, while secondary income receipts increased to $7.3 billion over 2016.

In 2017, the balance of payments (current account) with the United States is the sum of net trade, net transfers and net primary income. ($26.8 billion + $3.5 billion - $28.3 billion = surplus of $2.0 billion)

 

 

 

Rest of the World

 Canada 2017, the seasonally adjusted current account net trade deficit with the rest of the world (non-US countries) increased to $75.7 billion over 2016. The net goods deficit increased to $64.4 billion and the net services deficit increased to $11.4 billion, over 2016.

In Canada 2017, the seasonally adjusted current account net primary income surplus with non-US countries increased to $16.1 billion over 2016. Primary income receipts increased to $63.2 million and Primary income payments increased to $47.1 billion over 2016.

In Canada 2017, the seasonally adjusted current account net transfers deficit with non-US countries increased to $6.2 billion over 2016. Secondary income receipts decreased to $5.2 million and Secondary income payments decreased to $11.5 billion over 2016.

In 2017, the balance of payments (current account) with non-US countries is the sum of net primary income - net trade - net transfers. ($16.1 billion - $75.7 billion - $6.2 billion = deficit of $65.9 billion)

 

 

CANSIM 376-0105 and

376-0012, 376-0013; 376-0101 to 376-0108;
376-0121, 376-0122 and 376-124)



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