Key information about Canada Nominal GDP Growth

• Canada Nominal GDP Growth was reported at 4.311 % in Sep 2024.
• This records a decrease from the previous number of 5.115 % for Jun 2024.
• Canada Nominal GDP Growth data is updated quarterly, averaging 6.510 % from Mar 1958 to Sep 2024, with 267 observations.
• The data reached an all-time high of 23.418 % in Jun 2021 and a record low of -12.831 % in Jun 2020.
• Canada Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

The statistic shows the gross domestic product growth rate in Canada from 2020 to 2024, with projections up until 2030. In 2024, Canada’s real GDP growth was around 1.53 percent compared to the previous year.Economy of CanadaAs an indicator for the shape of a country’s economy, there are not many factors as telling as GDP. GDP is the total market value of all final goods and services that have been produced within a country within a given period of time, usually a year. Real GDP figures serve as an even more reliable tool in determining the direction in which a country’s economy may be swaying, as they are adjusted for inflation and reflect real price changes.Canada is one of the largest economies in the world and is counted among the globe’s wealthiest nations. It has a relatively small labor force in comparison to some of the world’s other largest economic powers, amounting to just under 19 million. Unemployment in Canada has remained relatively high as the country has battled against the tide of economic woe that swept across the majority of the world after the 2008 financial meltdown, and although moving in the right direction, there is still some way to go for Canada.Canada is among the leading trading nations worldwide, owing to the absolutely vast supplies of natural resources, which make up a key part of the Canadian trading relationship with the United States, the country with which Canada trades by far the most. In recent years, around three quarters of Canadian exports went to the United States and just over half of its imports came from its neighbor to the south. The relationship is very much mutually beneficial; Canada is the leading foreign energy supplier to the United States.

Graph and download economic data for Real Gross Domestic Product for Canada (NGDPRSAXDCCAQ) from Q1 1961 to Q1 2025 about Canada, real, and GDP.

Canada CA: Exports: % of GDP data was reported at 33.368 % in 2023. This records a decrease from the previous number of 33.857 % for 2022. Canada CA: Exports: % of GDP data is updated yearly, averaging 32.322 % from Dec 2001 (Median) to 2023, with 23 observations. The data reached an all-time high of 43.400 % in 2001 and a record low of 28.488 % in 2009. Canada CA: Exports: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Canada – Table CA.IMF: Contribution to GDP.

Graph and download economic data for Nominal Gross Domestic Product for Canada (NGDPXDCCAA) from 1961 to 2024 about Canada and GDP.

Canada CA: Final Consumption Expenditure: % of GDP data was reported at 78.601 % in 2019. This records a decrease from the previous number of 78.666 % for 2018. Canada CA: Final Consumption Expenditure: % of GDP data is updated yearly, averaging 76.696 % from Dec 1996 (Median) to 2019, with 24 observations. The data reached an all-time high of 79.538 % in 2009 and a record low of 73.381 % in 2005. Canada CA: Final Consumption Expenditure: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Canada – Table CA.IMF: Contribution to GDP.

Canada CA: Gross Capital Formation: % of GDP data was reported at 22.988 % in 2019. This records a decrease from the previous number of 23.200 % for 2018. Canada CA: Gross Capital Formation: % of GDP data is updated yearly, averaging 22.875 % from Dec 1996 (Median) to 2019, with 24 observations. The data reached an all-time high of 24.908 % in 2013 and a record low of 18.928 % in 1996. Canada CA: Gross Capital Formation: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Canada – Table CA.IMF: Contribution to GDP.

Graph and download economic data for Real Gross Domestic Product for Canada (NGDPRXDCCAA) from 1961 to 2024 about Canada, real, and GDP.

Canada CA: Imports: % of GDP data was reported at 33.646 % in 2022. This records an increase from the previous number of 30.959 % for 2021. Canada CA: Imports: % of GDP data is updated yearly, averaging 33.652 % from Dec 2001 (Median) to 2022, with 22 observations. The data reached an all-time high of 37.800 % in 2001 and a record low of 29.962 % in 2009. Canada CA: Imports: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Canada – Table CA.IMF: Contribution to GDP.

The statistic shows Mexico’s GDP from 1987 to 2024, with projections up until 2030. In 2024, Mexico’s GDP amounted to approximately 1.85 trillion U.S. dollars.Economy of MexicoGDP is an indicator primarily used to gauge the state and health of a national economy. GDP is the total market value of all final goods and services that have been produced within national borders in a given period of time, usually a year. GDP gives us an insight into a country’s economic development over a period of time, how its development fits in with international shifts and how it is affected by the factors that affect market economies.The demand among some segments of the Chinese workforce for fairer payment, coupled with higher transportations costs, have been key factors in increasing the competitiveness of Mexican manufacturing, with some suggestions being made that it is already cheaper than China for the many industries that serve the lucrative United States market. The Mexican economy is, however, far from trouble-free. And although the gross domestic product in Mexico has been increasing, it is showing that it is struggling to match up to the fast pace of growth and prosperity being seen in some of the BRIC countries, as well as the usual suspects of economic success, the United States, Canada and others.Inequality in Mexico remains a huge problem. The education system in the federation’s thirty-one states is in dire need of reform, and in some of the states, especially in those closest to the US border, brutal criminal drug lords'rule. It is important for Mexicans that they embrace the opportunity that they find themselves presented with at present and harness the energy of their large population , the newly arrived foreigners and their educated youth, in order to provide the country with the future prosperity that it most desperately needs.

Canada CA: GDP: saar: Exports of Goods and Services data was reported at 628.530 CAD bn in 2016. This records an increase from the previous number of 622.832 CAD bn for 2015. Canada CA: GDP: saar: Exports of Goods and Services data is updated yearly, averaging 96.880 CAD bn from Dec 1948 (Median) to 2016, with 69 observations. The data reached an all-time high of 628.530 CAD bn in 2016 and a record low of 3.893 CAD bn in 1949. Canada CA: GDP: saar: Exports of Goods and Services data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Canada – Table CA.IMF.IFS: Gross Domestic Product: by Expenditure: Seasonally Adjusted: Annual.

Graph and download economic data for General Government Gross Debt for Canada (CANGGXWDGGDP) from 1980 to 2030 about Canada, gross, debt, and government.

Canada CA: General Government: Primary Balance: % of Potential GDP: Cyclically Adjusted data was reported at -0.075 % in 2030. This records an increase from the previous number of -0.272 % for 2029. Canada CA: General Government: Primary Balance: % of Potential GDP: Cyclically Adjusted data is updated yearly, averaging -0.051 % from Dec 1991 (Median) to 2030, with 40 observations. The data reached an all-time high of 5.433 % in 1999 and a record low of -8.777 % in 2020. Canada CA: General Government: Primary Balance: % of Potential GDP: Cyclically Adjusted data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Canada – Table CA.IMF.FM: Government Finance Statistics.

Graph and download economic data for General government net lending/borrowing for Canada (GGNLBACAA188N) from 1980 to 2024 about budget, Canada, Net, and government.

With the global impact of the 2020 Novel Coronavirus (COVID-19), there has been a surge in public debt and uncertainty in the global economy. As the likelihood of a recession and a higher debt for Canada increases, the utility of a forecasting model is a realistic choice to both predict and determine optimal fiscal decisions for the government. This paper seeks to ratify existing historical trends in three developed economies (Canada, Japan, and the U.K.) as well as offer a time series forecast for the proceeding five years’ debt to GDP ratio. As per the International Monetary Fund (IMF), a limit of 60% in debt to GDP ratio was employed to measure how far off these three countries were from a considerably recoverable amount of debt. The time series forecast that the U.K. will drop to 65.436% by 2025, however, Japan and Canada will continue to accumulate debt to 254.3851% and 80.107% respectively.

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 Fiscal Monitor surveys and analyzes the latest public finance developments, it updates fiscal implications of the crisis and medium-term fiscal projections, and assesses policies to put public finances on a sustainable footing.

Country-specific data and projections for key fiscal variables are based on the April 2020 World Economic Outlook database, unless indicated otherwise, and compiled by the IMF staff. Historical data and projections are based on information gathered by IMF country desk officers in the context of their missions and through their ongoing analysis of the evolving situation in each country; they are updated on a continual basis as more information becomes available. Structural breaks in data may be adjusted to produce smooth series through splicing and other techniques. IMF staff estimates serve as proxies when complete information is unavailable. As a result, Fiscal Monitor data can differ from official data in other sources, including the IMF's International Financial Statistics.

The country classification in the Fiscal Monitor divides the world into three major groups: 35 advanced economies, 40 emerging market and middle-income economies, and 40 low-income developing countries. The seven largest advanced economies as measured by GDP (Canada, France, Germany, Italy, Japan, United Kingdom, United States) constitute the subgroup of major advanced economies, often referred to as the Group of Seven (G7). The members of the euro area are also distinguished as a subgroup. Composite data shown in the tables for the euro area cover the current members for all years, even though the membership has increased over time. Data for most European Union member countries have been revised following the adoption of the new European System of National and Regional Accounts (ESA 2010). The low-income developing countries (LIDCs) are countries that have per capita income levels below a certain threshold (currently set at $2,700 in 2016 as measured by the World Bank's Atlas method), structural features consistent with limited development and structural transformation, and external financial linkages insufficiently close to be widely seen as emerging market economies. Zimbabwe is included in the group. Emerging market and middle-income economies include those not classified as advanced economies or low-income developing countries. See Table A, "Economy Groupings," for more details.

Most fiscal data refer to the general government for advanced economies, while for emerging markets and developing economies, data often refer to the central government or budgetary central government only (for specific details, see Tables B-D). All fiscal data refer to the calendar years, except in the cases of Bangladesh, Egypt, Ethiopia, Haiti, Hong Kong Special Administrative Region, India, the Islamic Republic of Iran, Myanmar, Nepal, Pakistan, Singapore, and Thailand, for which they refer to the fiscal year.

Composite data for country groups are weighted averages of individual-country data, unless otherwise specified. Data are weighted by annual nominal GDP converted to U.S. dollars at average market exchange rates as a share of the group GDP.

In many countries, fiscal data follow the IMF's Government Finance Statistics Manual 2014. The overall fiscal balance refers to net lending (+) and borrowing ("") of the general government. In some cases, however, the overall balance refers to total revenue and grants minus total expenditure and net lending.

The fiscal gross and net debt data reported in the Fiscal Monitor are drawn from official data sources and IMF staff estimates. While attempts are made to align gross and net debt data with the definitions in the IMF's Government Finance Statistics Manual, as a result of data limitations or specific country circumstances, these data can sometimes deviate from the formal definitions.

CA: Current Account: % of GDP data was reported at -0.730 % in 2023. This records a decrease from the previous number of -0.353 % for 2022. CA: Current Account: % of GDP data is updated yearly, averaging -1.952 % from Dec 2001 (Median) to 2023, with 23 observations. The data reached an all-time high of 2.300 % in 2004 and a record low of -3.596 % in 2010. CA: Current Account: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Canada – Table CA.IMF: Current Account as % of GDP.

In 2025, the United States had the largest economy in the world, with a gross domestic product of over 30 trillion U.S. dollars. China had the second largest economy, at around 19.23 trillion U.S. dollars. Recent adjustments in the list have seen Germany's economy overtake Japan's to become the third-largest in the world in 2023, while Brazil's economy moved ahead of Russia's in 2024. Global gross domestic product Global gross domestic product amounts to almost 110 trillion U.S. dollars, with the United States making up more than one-quarter of this figure alone. The 12 largest economies in the world include all Group of Seven (G7) economies, as well as the four largest BRICS economies. The U.S. has consistently had the world's largest economy since the interwar period, and while previous reports estimated it would be overtaken by China in the 2020s, more recent projections estimate the U.S. economy will remain the largest by a considerable margin going into the 2030s.The gross domestic product of a country is calculated by taking spending and trade into account, to show how much the country can produce in a certain amount of time, usually per year. It represents the value of all goods and services produced during that year. Those countries considered to have emerging or developing economies account for almost 60 percent of global gross domestic product, while advanced economies make up over 40 percent.

Canada CA: GDP: saar: Imports of Goods and Services data was reported at 676.497 CAD bn in 2016. This records an increase from the previous number of 670.232 CAD bn for 2015. Canada CA: GDP: saar: Imports of Goods and Services data is updated yearly, averaging 89.832 CAD bn from Dec 1948 (Median) to 2016, with 69 observations. The data reached an all-time high of 676.497 CAD bn in 2016 and a record low of 3.236 CAD bn in 1948. Canada CA: GDP: saar: Imports of Goods and Services data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Canada – Table CA.IMF.IFS: Gross Domestic Product: by Expenditure: Seasonally Adjusted: Annual.