In 2022, Canada's gross domestic product (GDP) might recover by 4.5 percent compared to the previous year. Similarly, an increase of around one percent has been projected for 2023.

Full Year GDP Growth in Canada increased to 1.60 percent in 2024 from 1.25 percent in 2023. This dataset includes a chart with historical data for Canada Full Year Gdp Growth.

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.

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.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. Statistics Canada provides Nominal GDP in local currency. Nominal GDP prior to Q1 1962 is sourced from the International Monetary Fund.

This statistic shows the Gross Domestic Product (GDP) of Canada in February 2024, distinguished by major industry. In February 2024, the construction industry of Canada contributed about 160.97 billion Canadian dollars to the total Canadian GDP.

The statistic shows the gross domestic product (GDP) in Canada from 1987 to 2024, with projections up until 2030. In 2024, the gross domestic product in Canada was around 2.41 trillion U.S. dollars. The economy of Canada Canada is the second biggest country in the world after Russia and the biggest country in North America. Despite its large size, Canada has a relatively small population of just around 35.9 million people. However, the total population in Canada is estimated to grow to around 37.5 million inhabitants in 2020. The standard of living in the country is pretty high, the life expectancy as of 2013 in Canada ranks as one of the highest in the world. In addition, the country ranks number eight on the Human Development Index (HDI) worldwide. All key factors point to a stable and sustainable economy. Not only is Canada’s population increasing, but the economy has been slowly recovering after the global financial crisis in 2008. The unemployment rate in Canada in 2010 was at approximately 8 percent (263696). Today, the unemployment rate in Canada is estimated to be around 6.8 percent, and it is estimated to decrease further. During the financial crisis in 2008, Canada's inflation rate amounted to around 2.4 percent. By 2013, the inflation rate was at less than 1 percent in comparison to the previous year. Canada is considered to be one of the world’s wealthiest countries. By value of private financial wealth, Canada ranked seventh along with Italy. In addition, its gross domestic product per capita in 2014 was among the largest in the world and during the same year, its gross domestic product increased by over 2.5 percent in comparison to the previous year. Canada’s economic growth has been a result of its political stability and economic reforms following the global financial crisis. In the period between 2009 and 2010, Canada was among the leading countries with the highest political stability in the world.

Unemployment Rate in Canada increased to 7 percent in May from 6.90 percent in April of 2025. This dataset provides - Canada Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Canada GDP for 2023 was 2.142 trillion US dollars, a 0.88% decline from 2022.

<ul style='margin-top:20px;'>

<li>Canada GDP for 2022 was <strong>2.161 trillion US dollars</strong>, a <strong>7.67% increase</strong> from 2021.</li>
<li>Canada GDP for 2021 was <strong>2.007 trillion US dollars</strong>, a <strong>21.25% increase</strong> from 2020.</li>
<li>Canada GDP for 2020 was <strong>1.656 trillion US dollars</strong>, a <strong>5.05% decline</strong> from 2019.</li>
</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

Canada: Economic freedom, overall index (0-100): The latest value from 2024 is 72 index points, a decline from 74 index points in 2023. In comparison, the world average is 59 index points, based on data from 174 countries. Historically, the average for Canada from 1995 to 2024 is 76 index points. The minimum value, 68 index points, was reached in 1997 while the maximum of 81 index points was recorded in 2009.

Key information about Canada Foreign Portfolio Investment: % of GDP

• Canada Foreign Portfolio Investment: % of GDP was reported at 6.2 % in Dec 2024.
• This records a decrease from the previous number of 6.6 % for Sep 2024.
• Canada Foreign Portfolio Investment: % of GDP data is updated quarterly, averaging 2.4 % from Mar 1961 to Dec 2024, with 256 observations.
• The data reached an all-time high of 15.6 % in Mar 1993 and a record low of -5.9 % in Dec 2007.
• Canada Foreign Portfolio Investment: % of GDP 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: Foreign Portfolio Investment: % of Nominal GDP: Quarterly.

CEIC calculates quarterly Foreign Portfolio Investment as % of Nominal GDP from quarterly Foreign Portfolio Investment and quarterly Nominal GDP. Statistics Canada provides Foreign Portfolio Investment in local currency and Nominal GDP in local currency. Foreign Portfolio Investment as % of Nominal GDP prior to Q1 1981 is calculated from Foreign Portfolio Investment sourced from the International Monetary Fund.

Key information about Canada Private Consumption: % of GDP

• Canada Private Consumption accounted for 55.2 % of its Nominal GDP in Dec 2024, compared with a ratio of 54.2 % in the previous quarter.
• Canada Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1961 to Dec 2024, with an average share of 55.9 %.
• The data reached an all-time high of 65.6 % in Dec 1961 and a record low of 48.3 % in Sep 1974.

CEIC calculates Private Consumption as % of Nominal GDP from quarterly Private Consumption Expenditure and quarterly Nominal GDP. Private Consumption Expenditure is calculated as the sum of Household and NPISHs Consumption. Statistics Canada provides Private Consumption Expenditure in local currency and Nominal GDP in local currency, based on CSNA 2012/SNA 2008.


Related information about Canada Private Consumption: % of GDP

• In the latest reports, Canada GDP expanded 2.2 % YoY in Mar 2023.
• Its Nominal GDP reached 520.3 USD bn in Mar 2023.
• Canada GDP Per Capita reached 54,090.1 USD in Jun 2022.
• Its Gross Savings Rate was measured at 25.2 % in Sep 2024.

Key information about Canada Gross National Product (GNP)

• Canada Gross National Product (GNP) was reported at 561.858 USD bn in Dec 2024.
• This records a decrease from the previous number of 579.206 USD bn for Sep 2024.
• Canada Gross National Product (GNP) data is updated quarterly, averaging 142.793 USD bn from Mar 1961 to Dec 2024, with 256 observations.
• The data reached an all-time high of 579.206 USD bn in Sep 2024 and a record low of 9.399 USD bn in Mar 1961.

Related information about Canada Gross National Product (GNP) data

• Canada Gross National Product (GNP) data remains active status in CEIC and is reported by CEIC Data.
• CEIC converts quarterly Gross National Product into USD. Statistics Canada provides Gross National Product. Federal Reserve Board average market exchange rate is used for currency conversions.

Key information about Canada Labour Productivity Growth

• Canada Labour Productivity improved by 0.47 % YoY in Dec 2024, compared with a growth of 0.03 % in the previous quarter
• Canada Labour Productivity Growth data is updated quarterly, available from Mar 1977 to Dec 2024, averaging at 0.79 %
• The data reached an all-time high of 4.15 % in Sep 1999 and a record low of -2.81 % in Dec 1986

CEIC calculates Labour Productivity Growth from quarterly Real GDP and monthly Employment. Statistics Canada provides Real GDP in local currency, based on CSMA/SNA 2008, at chain linked 2017 prices and Employment

Employment in Canada increased by 8.80 in May of 2025. This dataset provides the latest reported value for - Canada Employment Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Labour Force Survey (LFS) is a monthly survey of Canadian households carried out by Statistics Canada. It was developed after the Second World War to satisfy a need for reliable and timely data on the labour market due to the massive labour market changes involved in the transition from a war to peace-time economy. The objectives of the LFS have been to divide the working-age population into three mutually exclusive labour force status categories (employed, unemployed, and not in the labour force) and to provide descriptive and explanatory data on each of these groups. With the release of the survey results only 10 days after the completion of data collection, the LFS estimates are the first of the major monthly economic data series to be released. The LFS is the source of Canada's official unemployment rates, including the rates used by Employment and Social Development Canada in the calculation of Employment Insurance (EI) eligibility and benefit criteria. Data from the survey also provide information on major labour market trends, such as shifts in employment across industrial sectors, hours worked and labour force participation. The LFS also provides employment estimates by industry, occupation, public and private sector, hours worked and much more, all cross-classifiable by a variety of demographic characteristics. Estimates are produced for Canada, the provinces, the territories and a large number of sub-provincial regions. For employees, data on wage rates, union status, job permanency and establishment size are also produced.

This statistic shows a comparison of gross domestic product (GDP) of Canada and the United States from 2020 to 2030 in billion U.S. dollars. In 2024, GDP of Canada amounted to about 2.24 trillion U.S. dollars and GDP of the United States amounted to about 29.18 trillion U.S. dollars. Thus, aggregated GDP for North America came to about 31.43 trillion U.S. dollars that year.

Key information about Canada Domestic Credit Growth

• Canada Domestic Credit increased 3.9 % YoY in Dec 2024, compared with an increase of 3.8 % YoY in the previous month
• Canada Domestic Credit Growth YoY data is updated monthly
• It averaged 7.4 %, available from Jan 1970 to Dec 2024
• The data reached an all-time high of 19.6 % in Aug 1981 and a record low of 1.3 % in Jun 2003

CEIC calculates Domestic Credit Growth from monthly Domestic Credit. Domestic Credit is calculated as the sum of Private Non-Financial Corporations and Household sectors. Statistics Canada provides Domestic Credit in local currency. Domestic Credit Growth prior to January 1991 is sourced from the Bank of Canada.


Further information about Canada Domestic Credit Growth

• In the latest reports, Canada Domestic Credit reached 4,531.7 USD bn in Dec 2024
• Money Supply M2 in Canada increased to 1,873.3 USD bn YoY in Nov 2024
• Canada Foreign Exchange Reserves was measured at 90.2 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 2.0 Months of Import in Dec 2024
• The country's Non Performing Loans Ratio stood at 0.6 % in Sep 2024, compared with the ratio of 0.5 % in the previous quarter
• Household Debt of Canada reached 99.2 % in Sep 2024, accounting for 99.2 % of the country's Nominal GDP

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 Business Barometer Index: Natural Resources data was reported at 52.080 Index in Aug 2024. This records a decrease from the previous number of 53.030 Index for Jul 2024. Canada Business Barometer Index: Natural Resources data is updated monthly, averaging 56.980 Index from Sep 2008 (Median) to Aug 2024, with 192 observations. The data reached an all-time high of 76.790 Index in Jun 2021 and a record low of 27.500 Index in Mar 2020. Canada Business Barometer Index: Natural Resources data remains active status in CEIC and is reported by Canadian Federation of Independent Business. The data is categorized under Global Database’s Canada – Table CA.S002: Business Barometer Index. Since May-2023 release, the values indicated in the months previous to the publication month may differ slightly from the actual value. These numbers have not been updated to include responses received after the initial cut-off date and the end of the respective month.

GDP, billion currency units in Canada, March, 2025 The most recent value is 757.58 billion Canadian Dollar as of Q1 2025, a decline compared to the previous value of 798.84 billion Canadian Dollar. Historically, the average for Canada from Q1 1961 to Q1 2025 is 246.57 billion Canadian Dollar. The minimum of 9.51 billion Canadian Dollar was recorded in Q1 1961, while the maximum of 800.82 billion Canadian Dollar was reached in Q3 2024. | TheGlobalEconomy.com