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.
Canada’s goods exports fell by 13 percent from $212 billion in the first quarter to $182.2 billion in the second. Canada’s exports value has hit its lowest amount since the fourth quarter of 2021. Imports also fell by 4 percent, declining from $212.5 billion in the first quarter to $201.8 billion in the second….