The statistic shows the gross domestic product growth rate in Canada from 2019 to 2023, with projections up until 2029. In 2023, Canada’s real GDP growth was around 1.25 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.

The growth rate of the real gross domestic product in Canada decreased by 2.8 percentage points (-73.3 percent) in 2023 in comparison to the previous year. The year 2023 marks a significant change in the growth rate compared to the previous year. Gross domestic product (GDP) growth refers to the annual change in GDP, and uses constant prices to allow comparisons between years without the impact of monetary inflation.

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.

Contains data from the World Bank's data portal. There is also a consolidated country dataset on HDX.

Economic growth is central to economic development. When national income grows, real people benefit. While there is no known formula for stimulating economic growth, data can help policy-makers better understand their countries' economic situations and guide any work toward improvement. Data here covers measures of economic growth, such as gross domestic product (GDP) and gross national income (GNI). It also includes indicators representing factors known to be relevant to economic growth, such as capital stock, employment, investment, savings, consumption, government spending, imports, and exports.

Graph and download economic data for Real Gross Domestic Product for Canada (NGDPRSAXDCCAQ) from Q1 1961 to Q4 2024 about Canada, real, and GDP.

Canada CA: GDP: Growth: Volume: Gross Fixed Capital Formation data was reported at 2.498 % in Dec 2026. This records an increase from the previous number of 2.477 % for Sep 2026. Canada CA: GDP: Growth: Volume: Gross Fixed Capital Formation data is updated quarterly, averaging 3.550 % from Jun 1961 (Median) to Dec 2026, with 263 observations. The data reached an all-time high of 74.683 % in Sep 2020 and a record low of -42.797 % in Jun 2020. Canada CA: GDP: Growth: Volume: Gross Fixed Capital Formation data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.EO: GDP: Growth and Contribution to Growth: Forecast: OECD Member: Quarterly. ITV_ANNPCT - Gross fixed capital formation, total, volume, growth . Percentage change compared to the previous period. Quarterly growth expressed at annual rate.

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.

"Communities benefitting" include all distinct communities receiving benefit from a community-based project under one of the following three sub-programs: Community Development, Community Futures Program, or Targeted Economic Initiatives. Note: If a community benefits from two different projects, that community will be counted twice.

Canada CA: Contribution to Growth in Real GDP: Net Exports data was reported at -0.000 % in 2026. This records an increase from the previous number of -0.001 % for 2025. Canada CA: Contribution to Growth in Real GDP: Net Exports data is updated yearly, averaging -0.001 % from Dec 1962 (Median) to 2026, with 65 observations. The data reached an all-time high of 0.037 % in 1982 and a record low of -0.031 % in 1974. Canada CA: Contribution to Growth in Real GDP: Net Exports data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.EO: GDP: Growth and Contribution to Growth: Forecast: OECD Member: Annual. CQ_FBGSV-Net exports, contribution to growth in real GDP

This statistic shows a comparison of gross domestic product (GDP) of Canada and the United States from 2019 to 2029 in billion U.S. dollars. In 2023, GDP of Canada amounted to about 2.89 trillion U.S. dollars and GDP of the United States amounted to about 27.72 trillion U.S. dollars. Thus, aggregated GDP for North America came to about 30.61 trillion U.S. dollars that year.

Canada CA: GDP: Growth: Deflator: Double Hit Scenario data was reported at 1.558 % in Dec 2021. This records an increase from the previous number of 1.354 % for Sep 2021. Canada CA: GDP: Growth: Deflator: Double Hit Scenario data is updated quarterly, averaging 3.245 % from Jun 1961 (Median) to Dec 2021, with 243 observations. The data reached an all-time high of 17.550 % in Sep 1974 and a record low of -12.709 % in Dec 2008. Canada CA: GDP: Growth: Deflator: Double Hit Scenario data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.EO: GDP: Growth and Contribution to Growth: Forecast: OECD Member: Quarterly. PGDP_ANNPCT - Gross domestic product, market prices, deflator. Percentage change compared to the previous period. Quarterly growth expressed at annual rate.

Canada GDP Growth Tracker: Yo2Y: Low data was reported at 8.562 % in 23 Apr 2023. This records an increase from the previous number of 6.532 % for 16 Apr 2023. Canada GDP Growth Tracker: Yo2Y: Low data is updated weekly, averaging -1.603 % from May 2020 (Median) to 23 Apr 2023, with 155 observations. The data reached an all-time high of 16.796 % in 17 Apr 2022 and a record low of -13.744 % in 24 May 2020. Canada GDP Growth Tracker: Yo2Y: Low data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.WT: GDP Growth Tracker: Weekly.

The statistic shows the gross domestic product (GDP) per capita in Canada from 1987 to 2023, with projections up until 2029. In 2023, the gross domestic product per capita in Canada was around 53,607.4 U.S. dollars. Canada's economy GDP per capita is a measurement often used to determine economic growth and potential increases in productivity and is calculated by taking the GDP and dividing it by the total population in the country. In 2014, Canada had one of the largest GDP per capita values in the world, a value that has grown continuously since 2010 after experiencing a slight downturn due to the financial crisis of 2008. Canada is seen as one of the premier countries in the world, particularly due to its strong economy and healthy international relations, most notably with the United States. Canada and the United States have political, social and economical similarities that further strengthen their relationship. The United States was and continues to be Canada’s primary and most important trade partner and vice versa. Canada’s economy is partly supported by its exports, most notably crude oil, which was the country’s largest export category. Canada was also one of the world’s leading oil exporters in 2013, exporting more than the United States. Additionally, Canada was also a major exporter of goods such as motor vehicles and mechanical appliances, which subsequently ranked the country as one of the world’s top export countries in 2013.

Contains data from the World Bank's data portal covering the following topics which also exist as individual datasets on HDX: Agriculture and Rural Development, Aid Effectiveness, Economy and Growth, Education, Energy and Mining, Environment, Financial Sector, Health, Infrastructure, Social Protection and Labor, Poverty, Private Sector, Public Sector, Science and Technology, Social Development, Urban Development, Gender, Millenium development goals, Climate Change, External Debt, Trade.

High-Growth Firm – Based on list of all businesses in Canada included in Statistics Canada’s Business Register, a “high-growth firm” is an enterprise with average annualized growth greater than 20% per annum over a three-year period. That is, the total growth over a three-year period must be greater than 72.8%. For this indicator, growth has been measured by revenue (though it can also be measured by growth in employment). High-growth enterprises are required to have at least 10 employees at the start of the three-year period, and are also required to be at least four years old.

Canada GDP Growth Tracker: YoY: Low data was reported at 1.301 % in 23 Apr 2023. This records a decrease from the previous number of 1.384 % for 16 Apr 2023. Canada GDP Growth Tracker: YoY: Low data is updated weekly, averaging 1.276 % from May 2019 (Median) to 23 Apr 2023, with 207 observations. The data reached an all-time high of 14.655 % in 04 Apr 2021 and a record low of -21.687 % in 05 Apr 2020. Canada GDP Growth Tracker: YoY: Low data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.WT: GDP Growth Tracker: Weekly.

Contains data from the World Bank's data portal. There is also a consolidated country dataset on HDX.

The world economy needs ever-increasing amounts of energy to sustain economic growth, raise living standards, and reduce poverty. But today's trends in energy use are not sustainable. As the world's population grows and economies become more industrialized, nonrenewable energy sources will become scarcer and more costly. Data here on energy production, use, dependency, and efficiency are compiled by the World Bank from the International Energy Agency and the Carbon Dioxide Information Analysis Center.

Explore the projected growth in Canada's oil and gas sector by 2025, challenges posed by energy policies, and implications for economic and environmental balance.

In 2023, the real GDP of Canada was around 1.89 trillion Canadian dollars at 2017 constant prices. Compared to the previous year, Canada's GDP increased. Constant prices adjust for the effect of inflation on the underlying goods and services used to calculate GDP, thereby enabling the GDP figure to reflect actual changes in output.