Canadian Dollar
Canada is the second largest country in the world. It produces and exports an abundance of natural resources… and cars, too. It has the third most oil deposits1 in the world, after Venezuela and Saudi Arabia.
Since 2009, its balance of trade2 has been negative (exports less than imports) more often than not. Since Covid-19, it has been more negative and more volatile. It has been trending higher, though, along with the price of its biggest export: crude oil.
Originally called the Canadian pound, the currency was renamed the Canadian dollar (CAD) in 1858.
| GDP3 | $2.1 Trillion USD |
| Major Exports4 | Crude oil, cars, gas |
| Major Export Partners4 | U.S., China, Japan |
| Budget Deficit5 | -3.6% |
| Trade Flows6 | 14.8 Billion CAD |
1. https://www.oanda.com/currency-converter/en/currencies/majors/cad/
2. https://tradingeconomics.com/canada/government-budget-value
3. https://data.worldbank.org/indicator/NY.GDP.MKTP.CD
5. https://tradingeconomics.com/country-list/government-budget?continent=world
6. https://tradingeconomics.com/country-list/balance-of-trade
7. https://www.worldometers.info/geography/largest-countries-in-the-world/
8. https://www.bis.org/statistics/rpfx22_fx.pdf
9. https://tradingeconomics.com/country-list/gold-reserves
10. https://tradingeconomics.com/country-list/households-debt-to-gdp
The Benefits of the Canadian Dollar
No gold reserves9
Suffered from high inflation
Fourth highest household debt10
How to Buy the Canadian Dollar
Currency CD
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Term
3-month
6-month
9-month
1-year
Currency Deposit Account
$2,500 minimum initial trade per currency. After initial trade, no minimum trade amount required.
Balance Range
All Balances
Available Currencies
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Canadian Dollar
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