Table 1
Balance of payments – Not seasonally adjusted
| Fourth quarter 2024 | First quarter 2025 | Second quarter 2025 | Third quarter 2025 | Fourth quarter 2025 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|
| millions of dollars | millions of dollars | millions of dollars | millions of dollars | millions of dollars | millions of dollars | millions of dollars | |
| Capital account and current account | |||||||
| Net lending / net borrowing, from capital account and current account | 4,063 | -1,456 | -25,507 | -9,479 | 3,682 | -15,571 | -32,760 |
| Current account balances | 4,348 | -649 | -25,406 | -9,405 | 5,053 | -14,974 | -30,407 |
| Goods and services | 6,216 | 4,634 | -23,683 | -11,453 | 3,069 | -5,698 | -27,432 |
| Goods | 2,942 | 6,286 | -21,945 | -15,256 | -187 | -7,174 | -31,101 |
| Services | 3,274 | -1,653 | -1,738 | 3,803 | 3,256 | 1,476 | 3,669 |
| Primary income | -711 | -3,621 | -126 | 3,843 | 3,309 | -7,058 | 3,404 |
| Compensation of employees | -4,126 | -4,066 | -3,949 | -3,835 | -3,545 | -15,338 | -15,394 |
| Investment income | 3,415 | 445 | 3,823 | 7,678 | 6,853 | 8,280 | 18,798 |
| Direct investment | 15,797 | 15,046 | 17,203 | 19,120 | 20,667 | 57,201 | 72,035 |
| Portfolio investment | -12,080 | -12,162 | -11,901 | -11,544 | -13,161 | -44,545 | -48,768 |
| Other investment | -302 | -2,439 | -1,479 | 102 | -652 | -4,377 | -4,469 |
| Secondary income | -1,157 | -1,661 | -1,597 | -1,795 | -1,325 | -2,218 | -6,378 |
| Capital account balance | -285 | -807 | -102 | -74 | -1,372 | -597 | -2,354 |
| Financial account1,2 | |||||||
| Net lending / net borrowing, from financial account | 1,172 | -342 | -21,823 | -1,746 | 2,227 | -20,944 | -21,685 |
| Net acquisition of financial assets | 171,823 | 41,409 | 44,687 | 107,011 | 168,345 | 274,302 | 361,452 |
| Direct investment assets | 52,983 | 8,877 | 29,509 | 27,556 | 13,490 | 123,029 | 79,432 |
| Direct investment assets, equity | 50,318 | -634 | 30,859 | 22,750 | 14,999 | 114,512 | 67,972 |
| Direct investment assets, debt instruments | 2,665 | 9,511 | -1,350 | 4,807 | -1,509 | 8,518 | 11,459 |
| Canadian portfolio investment in foreign securities | 18,635 | 35,491 | 23,800 | 56,053 | 18,476 | 112,623 | 133,821 |
| Foreign debt securities | 23,427 | 19,298 | 7,091 | 26,291 | -13,195 | 86,313 | 39,486 |
| Foreign money market instruments | 3,478 | -1,071 | -1,944 | 2,789 | -341 | -1,445 | -568 |
| Foreign bonds | 19,949 | 20,369 | 9,035 | 23,502 | -12,854 | 87,758 | 40,053 |
| Foreign equity and investment fund shares | -4,792 | 16,193 | 16,709 | 29,762 | 31,671 | 26,310 | 94,335 |
| Official international reserves | -2,789 | 3,012 | -4,335 | 2,270 | 353 | 7,433 | 1,300 |
| Other Canadian investment abroad | 102,994 | -5,971 | -4,287 | 21,132 | 136,026 | 31,217 | 146,900 |
| Loans | 23,878 | 13,920 | -17,100 | -15,044 | 67,479 | -7,779 | 49,254 |
| Currency and deposits | 47,885 | 6,946 | 18,173 | 14,025 | 8,903 | 54,304 | 48,047 |
| Trade credits and advances | -591 | -541 | -741 | 6 | 166 | -2,218 | -1,110 |
| Other accounts receivable | 31,823 | -26,296 | -4,619 | 22,145 | 59,479 | -13,090 | 50,709 |
| Net incurrence of liabilities | 170,651 | 41,751 | 66,511 | 108,757 | 166,118 | 295,246 | 383,137 |
| Direct investment liabilities | 24,204 | 32,342 | 21,890 | 17,460 | 25,130 | 86,825 | 96,822 |
| Direct investment liabilities, equity | 33,031 | 27,964 | 23,196 | 18,256 | 25,138 | 88,230 | 94,554 |
| Direct investment liabilities, debt instruments | -8,827 | 4,378 | -1,306 | -795 | -8 | -1,405 | 2,268 |
| Foreign portfolio investment in Canadian securities | 49,519 | -5,741 | -17,068 | 80,965 | 58,230 | 193,252 | 116,386 |
| Canadian debt securities | 47,837 | 34,818 | -13,587 | 73,474 | 41,087 | 200,843 | 135,792 |
| Canadian money market instruments | 24,133 | -17,424 | -3,340 | 21,023 | -10,665 | 3,548 | -10,405 |
| Canadian bonds | 23,705 | 52,242 | -10,247 | 52,451 | 51,752 | 197,295 | 146,198 |
| Canadian equity and investment fund shares | 1,681 | -40,559 | -3,481 | 7,491 | 17,143 | -7,591 | -19,406 |
| Other foreign investment in Canada | 96,928 | 15,150 | 61,689 | 10,331 | 82,758 | 15,169 | 169,929 |
| Loans | 41,620 | 30,600 | 189 | -17,811 | 60,638 | -40,391 | 73,617 |
| Currency and deposits | 54,472 | -14,705 | 60,928 | 27,948 | 21,669 | 54,618 | 95,840 |
| Special drawing rights | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade credits and advances | 690 | -890 | 426 | 39 | 297 | 357 | -128 |
| Other accounts payable | 146 | 144 | 147 | 155 | 154 | 585 | 601 |
| Discrepancy (net errors and omissions) | -2,891 | 1,114 | 3,684 | 7,733 | -1,455 | -5,374 | 11,076 |
Source(s):
Table note 1
Transactions are recorded on a net basis.
Table note 2
In the financial account, a positive value denotes an increase in investment and a negative value denotes a decrease in investment.
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