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Actual | Forecast | Previous | Revised Form | |
| -9.8B | -8.9B | -13.1B | N/A | ||
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Balance of Payments for 4th Quarter
From the Release: "The current account deficit on transactions with the rest of the world narrowed to $9.8 billion in the fourth quarter of 2009 (on a seasonally adjusted basis), largely reflecting an energy-led increase in exports of goods. The current account has been in deficit for the last five quarters, following almost 10 years of surpluses." |
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| 11/29 | 2/29 | 5/29 | 8/28 | 11/28 | 2/27 | 5/29 | 8/28 | 11/27 | 2/26 | ||
| Actual | 1.0B | -0.5B | 5.6B | 6.8B | 5.6B | -7.5B | -9.1B | -11.2B | -13.1B | -9.8B | |
| Forecast | 3.5B | 0.0B | 2.8B | 8.0B | 5.1B | -6.0B | -10.5B | -11.2B | -13.4 | -8.9B | |
| Previous | 6.3B | 1.3B | 0.8B | 4.5B | 8.2B | 3.6B | -7.8B | -9.1B | -11.9B | -13.1B | |
| Revised From | 8.4B | 1.0B | -0.5B | 5.6B | 6.8B | 5.6B | -7.5B | N/A | -11.2B | N/A | |
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Actual | Forecast | Previous | Revised Form | |
| -13.1B | -13.4 | -11.9B | -11.2B |
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Actual | Forecast | Previous | Revised Form | |
| -11.2B | -11.2B | -9.1B | N/A | ||
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Balance of Payments for 2nd Quarter
Provided by: Statistics Canada Previous Release: Press Release |
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Actual | Forecast | Previous | Revised Form | |
| -9.1B | -10.5B | -7.8B | -7.5B | ||
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Balance of Payments for 1st Quarter
From the Release: "The balance on current account transactions with the rest of the world (on a seasonally adjusted basis) was a $9.1 billion deficit in the first quarter of 2009, larger than the $7.8 billion deficit in the previous quarter. This quarter current account deficit was led by a further decline of the goods surplus to $0.8 billion, which was partially offset by a lower deficit on investment income. In the capital and financial account (unadjusted for seasonal variation), cross-border portfolio investment flows rebounded following the turmoil of the fourth quarter, adding significantly to large net inflows of funds to Canada in the first quarter. This mainly reflected non-resident investors adding to their portfolios with significant acquisitions of Canadian government debt instruments; Canadians had a slower pace of cross border investments but did return to foreign stock markets." |
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Actual | Forecast | Previous | Revised Form | |
| -7.5B | -6.0B | 3.6B | 5.6B | ||
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Balance of Payments for 4th Quarter
From the Release: "The current account balance with the rest of the world (on a seasonally-adjusted basis) was a deficit of $7.5 billion in the fourth quarter of 2008, the first since the second quarter of 1999. The swing to deficit in the quarter was driven by a lower surplus for trade in goods. This primarily reflected the continued weakening of export volumes compounded by substantial declines in export commodity prices in the fourth quarter, especially pronounced for most energy products. Deterioration in the investment income deficit was also a contributing factor." |
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Actual | Forecast | Previous | Revised Form | |
| 5.6B | 5.1B | 8.2B | 6.8B | ||
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Balance of Payments for 3rd Quarter
From the Release: "The current account surplus with the rest of the world (on a seasonally adjusted basis) dropped to $5.6 billion in the third quarter of 2008, down from $8.2 billion in the previous quarter. The reduction was largely as a result of a lower goods surplus, as commodity price gains slowed; and, a higher investment income deficit, as Canadian earnings on foreign direct investment were down. In the capital and financial account (unadjusted for seasonal variation), cross-border direct investment flows strengthened, with notably large Canadian direct investment abroad and a resumption of foreign acquisition of Canadian companies. In contrast, with deteriorating conditions on equity and credit markets, Canadian investors' demand for foreign securities slowed while non-resident investors reduced their holdings of Canadian stocks and bonds." |
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Actual | Forecast | Previous | Revised Form | |
| 6.8B | 8.0B | 4.5B | 5.6B | ||
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Balance of Payments for 2nd Quarter
The current account in Canada widened to C$6.8 billion as higher prices for the country's commodities helped boost exports. "Once again, accelerating energy prices were the main factor behind the strength in the value of sales of goods to other countries. Despite a marginal decline in volumes, export values for crude petroleum were up $3.0 billion on strong price gains (+25%)." Still, the 1st quarter's figure was revised down and forecasts had the second figure coming in at C$8 billion.
The Canadian Dollar held its ground near 1.0450 during NY trading as the US releases a positive GDP report. |
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Actual | Forecast | Previous | Revised Form | |
| 5.6B | 2.8B | 0.8B | -0.5B | ||
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Balance of Payments for 1st Quarter
The Canadian Dollar got a boost following the better than expected release. The USD/CAD pair wiped away the gains the greenback has accumulated during the week and made the pair test support at 0.9820. From the Release: "The current account surplus with the rest of the world (on a seasonally adjusted basis) increased sharply to $5.6 billion in the first quarter of 2008, led by higher prices for several exported commodities combined with a lower travel deficit. The deficits on commercial services and investment income were largely unchanged. In the capital and financial account (not seasonally adjusted), foreign direct investment flows into Canada slowed significantly from the acquisitions-driven pace of the previous quarter, while Canadian direct investment abroad continued to strengthen. Canadian portfolio investors focused on foreign equities, while their non-resident counterparts' investment flows were dominated by federal bonds. The goods surplus widened to $13.4 billion during the first quarter, up strongly from the previous two quarters. Much of the increase came from gains on the export side that were again dominated by the growth in the value of exports of energy products." |
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Actual | Forecast | Previous | Revised Form | |
| -0.5B | 0.0B | 1.3B | 1.0B | ||
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Balance of Payments for 4th Quarter
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Actual | Forecast | Previous | Revised Form | |
| 1.0B | 3.5B | 6.3B | 8.4B | ||
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Balance of Payments for 3rd Quarter. The current account surplus for the 3rd quarter shrank dramatically, as the previous was largely revised down as well. The 1.0B surplus is the lowest since 2nd quarter of 2003. The large drop in goods surplus(-5.3billion) sent it to CAD$11.1 billion, the lowest since 2nd quarter of 1999. Exports of energy fell due to drop in price of natural gas, although volume partially offset the drop in value. Other energy products had lower volume and some commodity prices fell. Imports resumed an upward trend, adding to the deterioration of the surplus. The stronger Canadian dollar has made imports more attractive to Canada while exports less so to the world. |
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