The GDP per capita overall increased in all seven G7 countries since 2000 except Italy. There, it fluctuated over the period, being only slightly higher in 2024 than in 2000. The United States had the highest GDP per capita of the countries at over 76,000 dollars in terms of purchasing-power-parity (PPP). Germany had the second highest GDP per capita.

The gross domestic product (GDP) of all G7 countries decreased sharply in 2009 and 2020 due to the financial crisis and COVID-19 pandemic, respectively. The growth decline was heavier after the COVID-19 pandemic than the financial crisis. Moreover, Italy had a negative GDP growth rate in 2012 and 2013 following the euro crisis. In 2023, Germany experienced an economic recession.

The United States has, by far, the largest gross domestic product (GDP) of the G7 countries. Moreover, while the GDP of the other six countries fluctuated between 2000 and 2024, the U.S.' grew almost constantly, reaching an estimated 29.2 trillion U.S. dollars in 2024. The United States is also the world's largest economy ahead of China. Germany had the second largest economy of the G7 countries at around 4.7 trillion U.S. dollars.

In 2023, the G7 countries of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States held 30 percent of the global gross domestic product (GDP). In 2029, that figure is projected to drop to 27 percent. Considering the other G20 countries, excluding the G7 countries, the GDP is expected to account for around 46 percent of the global GDP in 2029.

The average for 2023 based on 7 countries was 57647 U.S. dollars. The highest value was in the USA: 74578 U.S. dollars and the lowest value was in Japan: 46158 U.S. dollars. The indicator is available from 1990 to 2023. Below is a chart for all countries where data are available.

The gross domestic product (GDP) of all G7 countries is forecast to grow over the next six years, although at different paces. Moreover, Canada is forecast to overtake Italy's GDP during the coming years. The total GDP of the United States, who has the highest GDP of the countries, is forecast to reach over 34 trillion dollars by 2029.

This table presents Gross Domestic Product (GDP) and its main components according to the expenditure approach. Data is presented as growth rates. In the expenditure approach, the components of GDP are: final consumption expenditure of households and non-profit institutions serving households (NPISH) plus final consumption expenditure of General Government plus gross fixed capital formation (or investment) plus net trade (exports minus imports).

When using the filters, please note that final consumption expenditure is shown separately for the Households/NPISH and General Government sectors, not for the whole economy. All other components of GDP are shown for the whole economy, not for the sector breakdowns.
The data is presented for G20 countries individually, as well as the OECD total, G20, G7, OECD Europe, United States - Mexico - Canada Agreement (USMCA), European Union and euro area.

These indicators were presented in the previous dissemination system in the QNA dataset.

See User Guide on Quarterly National Accounts (QNA) in OECD Data Explorer: QNA User guide
See QNA Calendar for information on advance release dates: QNA Calendar
See QNA Changes for information on changes in methodology: QNA Changes
See QNA TIPS for a better use of QNA data: QNA TIPS
Explore also the GDP and non-financial accounts webpage: GDP and non-financial accounts webpage
OECD statistics contact: STAT.Contact@oecd.org

Key information about Canada Government Debt: % of GDP

• Canada Government debt accounted for 69.4 % of the country's Nominal GDP in Mar 2024, compared with the ratio of 66.9 % in the previous year.
• Canada government debt to GDP ratio data is updated yearly, available from Mar 1962 to Mar 2024.
• The data reached an all-time high of 83.6 % in Mar 1996 and a record low of 33.1 % in Mar 1977.

CEIC calculates Government Debt as % of Nominal GDP from annual Government Debt and quarterly Nominal GDP. The Department of Finance Canada provides Government Debt in local currency. Statistics Canada provides Nominal GDP in local currency based on CSNA 2012/SNA 2008. Government Debt as % of Nominal GDP is in annual frequency, ending in March of each year.


Related information about Canada Government Debt: % of GDP

• In the latest reports, Canada National Government Debt reached 1,519.8 USD bn in Mar 2024.
• The country's Nominal GDP reached 520.3 USD bn in Mar 2023.

The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers. As a member of the G7, Canada plays a leading role on the international stage and is able to advance domestic and international priorities. The G7 provides global leadership and serves as a powerful catalyst on issues that are later taken up by other fora with broader global and regional membership. The G7 brings together the world’s advanced economies to influence global trends and tackle pervasive and crosscutting issues, as well as emergent global crises. The G7 has strengthened international economic and security policies, advanced discussion of global issues including climate change and gender equality, brought donors together and supported disarmament programs. Most recently, the G7 has worked to tackle the COVID-19 pandemic and respond to Russia’s illegal invasion of Ukraine. At the G7, Canada has advanced its domestic and international priorities, including gender equality, peace and security, climate change and building a sustainable global economy. Transparent and inclusive engagement with Canadian and international stakeholders has helped Canada to deliver on priorities that are important to Canadians.

This statistic shows the total GDP of the countries who formed the G7 and the E7 in 2015, alongside a project for the year 2050. The G7 includes; the United States, Japan, Germany, The United Kingdom, France, Italy, and Canada. The E7 includes; China, India, Brazil, Russia, Indonesia, Mexico, and Turkey. The projected GDP total of the E7 countries for 2050 was 138.2 trillion U.S. dollars.

The United States has had the highest economic growth in the G7 since the start of the COVID-19 pandemic, with its economy 5.4 percent larger in the first quarter of 2023, when compared with the fourth quarter of 2019. By contrast, the United Kingdom and Germany have both seen their economies shrink by 0.5 percent in the same time period.

The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers. As a member of the G7, Canada plays a leading role on the international stage and is able to advance domestic and international priorities. The G7 provides global leadership and serves as a powerful catalyst on issues that are later taken up by other fora with broader global and regional membership. The G7 brings together the world’s advanced economies to influence global trends and tackle pervasive and crosscutting issues, as well as emergent global crises. The G7 has strengthened international economic and security policies, advanced discussion of global issues including climate change and gender equality, brought donors together and supported disarmament programs. Most recently, the G7 has worked to tackle the COVID-19 pandemic and respond to Russia’s illegal invasion of Ukraine. At the G7, Canada has advanced its domestic and international priorities, including gender equality, peace and security, climate change and building a sustainable global economy. Transparent and inclusive engagement with Canadian and international stakeholders has helped Canada to deliver on priorities that are important to Canadians.

The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers. As a member of the G7, Canada plays a leading role on the international stage and is able to advance domestic and international priorities. The G7 provides global leadership and serves as a powerful catalyst on issues that are later taken up by other fora with broader global and regional membership. The G7 brings together the world’s advanced economies to influence global trends and tackle pervasive and crosscutting issues, as well as emergent global crises. The G7 has strengthened international economic and security policies, advanced discussion of global issues including climate change and gender equality, brought donors together and supported disarmament programs. Most recently, the G7 has worked to tackle the COVID-19 pandemic and respond to Russia’s illegal invasion of Ukraine. At the G7, Canada has advanced its domestic and international priorities, including gender equality, peace and security, climate change and building a sustainable global economy. Transparent and inclusive engagement with Canadian and international stakeholders has helped Canada to deliver on priorities that are important to Canadians.

The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers. As a member of the G7, Canada plays a leading role on the international stage and is able to advance domestic and international priorities. The G7 provides global leadership and serves as a powerful catalyst on issues that are later taken up by other fora with broader global and regional membership. The G7 brings together the world’s advanced economies to influence global trends and tackle pervasive and crosscutting issues, as well as emergent global crises. The G7 has strengthened international economic and security policies, advanced discussion of global issues including climate change and gender equality, brought donors together and supported disarmament programs. Most recently, the G7 has worked to tackle the COVID-19 pandemic and respond to Russia’s illegal invasion of Ukraine. At the G7, Canada has advanced its domestic and international priorities, including gender equality, peace and security, climate change and building a sustainable global economy. Transparent and inclusive engagement with Canadian and international stakeholders has helped Canada to deliver on priorities that are important to Canadians.

The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers. As a member of the G7, Canada plays a leading role on the international stage and is able to advance domestic and international priorities.

The G7 provides global leadership and serves as a powerful catalyst on issues that are later taken up by other fora with broader global and regional membership. The G7 brings together the world’s advanced economies to influence global trends and tackle pervasive and crosscutting issues, as well as emergent global crises. The G7 has strengthened international economic and security policies, advanced discussion of global issues including climate change and gender equality, brought donors together and supported disarmament programs. Most recently, the G7 has worked to tackle the COVID-19 pandemic and respond to Russia’s illegal invasion of Ukraine.

At the G7, Canada has advanced its domestic and international priorities, including gender equality, peace and security, climate change and building a sustainable global economy. Transparent and inclusive engagement with Canadian and international stakeholders has helped Canada to deliver on priorities that are important to Canadians.

The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers. As a member of the G7, Canada plays a leading role on the international stage and is able to advance domestic and international priorities. The G7 provides global leadership and serves as a powerful catalyst on issues that are later taken up by other fora with broader global and regional membership. The G7 brings together the world’s advanced economies to influence global trends and tackle pervasive and crosscutting issues, as well as emergent global crises. The G7 has strengthened international economic and security policies, advanced discussion of global issues including climate change and gender equality, brought donors together and supported disarmament programs. Most recently, the G7 has worked to tackle the COVID-19 pandemic and respond to Russia’s illegal invasion of Ukraine. At the G7, Canada has advanced its domestic and international priorities, including gender equality, peace and security, climate change and building a sustainable global economy. Transparent and inclusive engagement with Canadian and international stakeholders has helped Canada to deliver on priorities that are important to Canadians.

Of the G7 countries, Japan had the highest net debt in terms of share of gross domestic product (GDP) between 2010 and 2024. That year, Japan's government's net debt reached an estimated 156 percent of its total GDP. Italy had the second highest debt rate at 127 percent of its GDP, whereas Canada had the lowest at only 14 percent.

The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers. As a member of the G7, Canada plays a leading role on the international stage and is able to advance domestic and international priorities.

The G7 provides global leadership and serves as a powerful catalyst on issues that are later taken up by other fora with broader global and regional membership. The G7 brings together the world’s advanced economies to influence global trends and tackle pervasive and crosscutting issues, as well as emergent global crises. The G7 has strengthened international economic and security policies, advanced discussion of global issues including climate change and gender equality, brought donors together and supported disarmament programs. Most recently, the G7 has worked to tackle the COVID-19 pandemic and respond to Russia’s illegal invasion of Ukraine.

At the G7, Canada has advanced its domestic and international priorities, including gender equality, peace and security, climate change and building a sustainable global economy. Transparent and inclusive engagement with Canadian and international stakeholders has helped Canada to deliver on priorities that are important to Canadians.

The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers. As a member of the G7, Canada plays a leading role on the international stage and is able to advance domestic and international priorities. The G7 provides global leadership and serves as a powerful catalyst on issues that are later taken up by other fora with broader global and regional membership. The G7 brings together the world’s advanced economies to influence global trends and tackle pervasive and crosscutting issues, as well as emergent global crises. The G7 has strengthened international economic and security policies, advanced discussion of global issues including climate change and gender equality, brought donors together and supported disarmament programs. Most recently, the G7 has worked to tackle the COVID-19 pandemic and respond to Russia’s illegal invasion of Ukraine. At the G7, Canada has advanced its domestic and international priorities, including gender equality, peace and security, climate change and building a sustainable global economy. Transparent and inclusive engagement with Canadian and international stakeholders has helped Canada to deliver on priorities that are important to Canadians.

The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers. As a member of the G7, Canada plays a leading role on the international stage and is able to advance domestic and international priorities. The G7 provides global leadership and serves as a powerful catalyst on issues that are later taken up by other fora with broader global and regional membership. The G7 brings together the world’s advanced economies to influence global trends and tackle pervasive and crosscutting issues, as well as emergent global crises. The G7 has strengthened international economic and security policies, advanced discussion of global issues including climate change and gender equality, brought donors together and supported disarmament programs. Most recently, the G7 has worked to tackle the COVID-19 pandemic and respond to Russia’s illegal invasion of Ukraine. At the G7, Canada has advanced its domestic and international priorities, including gender equality, peace and security, climate change and building a sustainable global economy. Transparent and inclusive engagement with Canadian and international stakeholders has helped Canada to deliver on priorities that are important to Canadians.