The Gross Domestic Product (GDP) in Canada was worth 2241.25 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Canada represents 2.11 percent of the world economy. This dataset provides - Canada GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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.

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 Gross Domestic Product (GDP) in Canada expanded 0.50 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Canada GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Canada Real GDP Growth

• The Gross Domestic Product (GDP) in Canada expanded 2.1 % YoY in Dec 2022, following a growth of 3.8 % in the previous quarter.
• Real GDP Growth YoY data in Canada is updated quarterly, available from Mar 1962 to Dec 2022, with an average rate of 3.1 %.
• The data reached an all-time high of 12.1 % in Jun 2021 and a record low of -12.2 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. Statistics Canada provides Real GDP in local currency, at chain linked 2012 prices.


Related information about Canada Real GDP Growth

• In the latest reports, Nominal GDP of Canada reached 513.5 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 4.2 % in Dec 2022.
• GDP Per Capita in Canada reached 54,104.3 USD in Jun 2022.
• Its Gross Savings Rate was measured at 23.4 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 23.1 % in Dec 2022.
• Public Consumption accounted for 21.0 % in Dec 2022.
• Private Consumption accounted for 55.6 % in Dec 2022.

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.

Gross Domestic Product (GDP) at basic prices, by various North American Industry Classification System (NAICS) aggregates, volume measures, lowest industry levels only, (dollars x 1,000,000), annual average, 5 most recent time periods.

The Gross Domestic Product per capita in Canada was last recorded at 44401.72 US dollars in 2024. The GDP per Capita in Canada is equivalent to 352 percent of the world's average. This dataset provides - Canada GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This graph shows the real Gross Domestic Product (GDP) of Canada in 2023, by province. In 2023, Ontario added about 852.7 billion chained (2017) Canadian dollars of value to the real GDP of Canada.

Graph and download economic data for Gross Domestic Product for Canada (MKTGDPCAA646NWDB) from 1960 to 2024 about Canada and GDP.

Key information about Canada Market Capitalization: % of GDP

• Canada Market Capitalization accounted for 159.8 % of its Nominal GDP in Dec 2024, compared with a percentage of 141.7 % in the previous year
• Canada Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1977 to Dec 2024
• The data reached an all-time high of 213.5 % in Dec 1999 and a record low of 65.8 % in Dec 1982

CEIC calculates Market Capitalization as % of Nominal GDP from monthly Market Capitalization and quarterly Nominal GDP. TMX Group Limited provides Market Capitalization in local currency. Statistics Canada provides Nominal GDP in local currency. Market Capitalization as % of Nominal GDP prior to 2012 is sourced from the World Bank

Annual Provincial and Territorial Gross Domestic Product (GDP) at basic prices, by North American Industry Classification aggregates, in chained and current dollars, growth rate.

Gross National Product in Canada increased to 3122564 CAD Million in the first quarter of 2025 from 3094340 CAD Million in the fourth quarter of 2024. This dataset provides - Canada Gross National Product - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Quarterly expenditure-based, gross domestic product, Canada, in chained (2017) and current dollars.

This statistic shows the real gross domestic product of Canadian metropolitan areas in 2016 with a forecast for 2021. In 2016, Montreal had a GDP of about *** billion Canadian dollars.

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

Key information about Canada Private Debt: % of Nominal GDP

• Canada Private Debt accounted for 212.62 % of its Nominal GDP in Dec 2024, compared with a ratio of 212.27 % in the previous quarter
• Canada Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Mar 1969 to Dec 2024, with an average share of 129.19 %
• The data reached an all-time high of 237.84 % in Dec 2020 and a record low of 89.28 % in Sep 1976

CEIC calculates quarterly Private Debt as % of Nominal GDP from monthly Private Debt and quarterly Nominal GDP. Private Debt is calculated as a sum of Loans to Private Non-Financial Corporations and Household sectors. Statistics Canada provides Private Debt and Nominal GDP in local currency. Private Debt prior to Q1 1990 is sourced from the Bank of Canada.

The Gross Domestic Product per capita in Canada was last recorded at 56691.91 US dollars in 2024, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Canada, when adjusted by Purchasing Power Parity is equivalent to 319 percent of the world's average. This dataset provides - Canada GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The containment measures enacted to combat the COVID-19 pandemic was one of the factor that left heavy negative impacts on Canadian exports and other aspects of the Canadian economy in 2020. An interesting feature of the “COVID-19 downturn” is the exceptionally large month to month variation in economic and trade activity, especially in the first half of 2020. Early in the pandemic, both exports value and the number of exporting enterprises suffered greatly, declining 34% and 20%, respectively, between February and April. Starting in May, both exports value and the number of exporters started to recover at a fast pace, and the fast pace of the recovery continued throughout most of summer 2020. Beginning in the fall of 2020, the recovery in exports value and the number of exporters continued but at a slower pace. By the end of the year, exports value has almost reached pre-pandemic (February 2020) level but the number of exporters was still 3.5% below pre‑pandemic level.