Canada Q1 current account surplus +$5.03B vs $3.20B expected

  • Canadian first quarter current account data
Canadian current account
  • Prior was -0.80B (revised to -0.14B)
  • Financial account +$119.7B on strong repatriation of funds from the sales of foreign shares, combined with record foreign acquisitions of Canadian bonds
  • Direct investment in Canada reached its highest level in one year
  • Exports $180.7 billion
  • Imports $172.1 billion
  • Energy product exports up $6.5 billion, despite lower volumes

This is the best reading in nearly 14 years and was led by the largest goods surplus since the financial crisis in 2008.

Canadian current account breakdown

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