Canada’s Current Account To Return To Balance On Soft Import Demand And Rebounding Commodities
Commodities / Canada / Sat 01 Jun, 2024
Key View
- We continue to forecast that Canada’s current account balance will improve from -0.7% of GDP in 2023 to around 0.0% this year, broadly in line with consensus expectations.
- Weakness in imports linked to a soft domestic economic outlook and strength in energy exports as the Trans Mountain pipeline becomes operational will drive the improvement