Canada’s Current Account Deficit Reached Record in June Amid Trade Dispute

Cranes used to load and unload container ships are seen at the DP World marine terminal at Port Metro Vancouver, in Vancouver, on March 16, 2018. The Canadian Press/Darryl Dyck

Canada’s current account deficit reached an all-time record of $21.2 billion in the second quarter of 2025 amid a trade dispute with the United States, according to data from Statistics Canada.

Canada’s current account, which reflects a nation’s international transactions with the global economy, rose by $19.8 billion in the second quarter of 2025, primarily due to an expansion of the country’s goods deficit resulting from declining exports. Goods exports fell by 13.1 percent in the second quarter of the year.