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February 26, 2026CANADA'S BALANCE OF INTERNATIONAL PAYMENTS Q4 AND ANNUAL 2025 
Quarter-over-quarter (all countries, seasonally adjusted, Q4 2025 vs. Q3 2025)
Canada's current account receipts increased $5.73 billion to $332.3 billion while current account payments increased $1.17 billion to $333.0 billion. The resulting net current account deficit narrowed by $4.57 billion to $0.71 billion.
Goods exports were up $7.41 billion to $195.07 billion while goods imports were up $2.45 billion to $199.61 billion. As a result, the goods balance deficit narrowed by $4.96 billion to $4.54 billion.
Services exports edged up $0.33 billion to $60.88 billion while services imports increased $896 million to $59.45 billion. The services surplus narrowed by $568 million to $1.43 billion.
Primary income receipts decreased $1.94 billion to $70.92 billion while primary income payments fell $0.91 billion to $67.62 billion. The primary income surplus contracted by $1.02 billion to $3.31 billion.
Secondary income receipts edged down by $70 million to $5.41 billion while secondary income payments decreased by $1.27 billion to $6.30 billion. The resulting net secondary income deficit narrowed by $1.20 billion to $0.90 billion.
Annual (all countries, 2025 vs 2024)
For 2025, Canada's current account reported a deficit of $30.41 billion, $15.43 billion wider than the deficit in 2024. This was attributable to a wider goods deficit, which expanded by $23.93 billion to $31.10 billion as well as to a $4.16 billion increase in the secondary income deficit to $6.38 billion. Canada's services trade surplus expanded by $2.19 billion to $3.67 billion while the primary income account shifted from a deficit of $7.06 billion in 2024 to a surplus of $3.40 billion in 2025.
Canada's goods exports fell $1.59 billion to $776.02 billion while goods imports were up $22.34 billion to $807.12 billion.
Canada's services exports were up $8.53 billion to $240.23 billion while services imports increased $6.34 billion to $236.57 billion.
Canada's primary income receipts increased $23.72 billion to $278.02 billion while primary income payments increased $13.26 billion to $274.62 billion.
Canada's secondary income receipts fell $140 million to $21.36 billion while secondary income payments increased by $4.02 billion to $27.74 billion.
Source: Statistics Canada. Table 36-10-0018-01 Balance of international payments, current account, seasonally adjusted, quarterly (x 1,000,000); Table 36-10-0014-01 Balance of international payments, current account and capital account, annual (x 1,000,000)
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