Canada's current account balance swung to a surplus of C$8.8 billion in the second quarter of 2026 from a deficit of C$8.3 billion in the prior quarter, missing forecasts of a C$2 billion shortfall. This marks the first surplus since the second quarter of 2022 and the largest surplus since the last quarter of 2005. Strong gains in goods exports, led by energy products, moved the trade in goods balance from a deficit to a large surplus of C$ 12.2 billion, being the main contributor in the shift. Imports of goods increased as well, but at a slower pace than exports. In contrast, the services surplus declined sharply to C$26 million, while the primary income deficit widened to C$2.6 billion amid higher interest payments on debt securities. The secondary income deficit also widened sharply to C$782 million, driven by higher private transfers and lower government transfers.