Canada’s current account balance moved decisively into positive territory in the second quarter of 2026, reversing the deficit recorded at the start of the year. According to data updated on 27 August 2026, the current account stood at a surplus of 8.8 billion Canadian dollars in Q2, compared with a deficit of 8.3 billion dollars in the first quarter of 2026.
The shift from a negative to a positive balance signals a marked improvement in Canada’s external position over just one quarter. While detailed drivers were not provided, such a turnaround typically reflects stronger trade performance, improved services or income balances, or a combination of these factors. Investors and policymakers are likely to view the Q2 surplus as a constructive sign for the country’s external accounts after beginning the year in deficit.
