The ratio of national debt to gross domestic product (GDP) of Canada was approximately 110.77 percent in 2024. Between 1980 and 2024, the ratio rose by around 66.18 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio is forecast to decline by about 6.66 percentage points from 2024 to 2030, fluctuating as it trends downward.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

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.

Households Debt in Canada decreased to 99.58 percent of GDP in the first quarter of 2025 from 100.39 percent of GDP in the fourth quarter of 2024. This dataset provides - Canada Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

During the Great Recession of 2008-2009, the advanced economies of the G7 experienced a period of acute financial crises, downturns in the non-financial economy, and political instability. The governments of these countries in many cases stepped in to backstop their financial sectors and to try to stimulate their economies. The scale of these interventions was large by historical standards, with observers making comparisons to the measures of the New Deal which the U.S. undertook in the 1930s to end the Great Depression.

The bailouts of financial institutions and stimulus packages caused the government debt ratios of the United States, United Kingdom, and Japan in particular to rise sharply. The UK's government debt ratio almost doubled due to the bailouts of Northern Rock and Royal Bank of Scotland. On the other hand, the increases in government debt in the Eurozone were more measured, due to the comparative absence of stimulus spending in these countries. They would later be hit hard during the Eurozone crisis of the 2010s, when bank lending to the periphery of the Eurozone (Portugal, Spain, Ireland and Greece in particular) would trigger a sovereign debt crisis. The Canadian government, led by a Conservative premier, engaged in some fiscal stimulus to support its economy, but these packages were small in comparison to that in most other of the G7 countries.

Canada recorded a Government Debt to GDP of 110.80 percent of the country's Gross Domestic Product in 2024. This dataset provides - Canada Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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

Mortgage interest rates worldwide varied greatly in June 2025, from less than ******percent in many European countries to as high as ***percent in Turkey. The average mortgage rate in a country depends on the central bank's base lending rate and macroeconomic indicators such as inflation and forecast economic growth. Since 2022, inflationary pressures have led to rapid increases in mortgage interest rates. Which are the leading mortgage markets? An easy way to estimate the importance of the mortgage sector in each country is by comparing household debt depth, or the ratio of the debt held by households compared to the county's GDP. In 2024, Switzerland, Australia, and Canada had some of the highest household debt to GDP ratios worldwide. While this indicator shows the size of the sector relative to the country’s economy, the value of mortgages outstanding allows to compare the market size in different countries. In Europe, for instance, the United Kingdom, Germany, and France were the largest mortgage markets by outstanding mortgage lending. Mortgage lending trends in the U.S. In the United States, new mortgage lending soared in 2021. This was largely due to the growth of new refinance loans that allow homeowners to renegotiate their mortgage terms and replace their existing loan with a more favorable one. Following the rise in interest rates, the mortgage market cooled, and refinance loans declined.

The statistic shows the unemployment rate in Canada from 2019 to 2023, with projections up until 2029. In 2023, the unemployment rate in Canada was at around 5.41 percent. Canada’s economy Three-quarter of Canada’s workforce is employed in the services sector, with the other two sectors, agriculture and industry, accounting for the rest of Canada’s employment. The country’s main export and import partner is the United States. Although both export and import figures have increased over the last few years, the trade balance of goods in Canada – i.e. the value of Canada’s exports minus the value of its imports – has slumped dramatically since the economic crisis hit in 2008. In 2009, for the first time in a decade, Canada reported a trade deficit, and the figures are still struggling to recover. Additionally, Canada’s public debt has been increasing since the crisis. Although a few key figures are still not back to the usual level, Canada and its economy seem to have more or less bounced back from the crisis; as can be seen above, the unemployment rate is gradually decreasing, for example, and gross domestic product / GDP in Canada has been increasing steadily. Canada is thus among the countries with the largest proportion of global gross domestic product / GDP based on Purchasing Power Parity. Canada is among the leading trading nations worldwide, and an important part of its economy is the export of oil. The country hosts significant oil resources, in fact, its capacity is the third-largest after those of Saudi Arabia and Venezuela.

Key information about Canada M2 Growth

• Canada Money Supply M2 increased 6.1 % YoY in Dec 2024, compared with a growth of 5.8 % in the previous month
• Canada Money Supply M2 growth data is updated monthly, available from Jan 1969 to Dec 2024
• The data reached an all-time high of 23.6 % in May 1974 and a record low of -1.8 % in Apr 1998

CEIC calculates M2 Growth Rate from monthly M2. The Bank of Canada provides M2 in local currency.


Further information about Canada M2 Growth

• In the latest reports, 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
• Canada Domestic Credit reached 4,531.7 USD bn in Dec 2024, representing an increased of 3.9 % YoY
• 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 2,110.9 USD bn in Dec 2024, accounting for 99.2 % of the country's Nominal GDP

The United States recorded a trade deficit of 78.31 USD Billion in July of 2025. This dataset provides the latest reported value for - United States Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.