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The economy of Canada is a highly developed mixed economy, with the world's tenth-largest economy as of 2023, and a nominal GDP of approximately US$2.117 trillion. Canada is one of the world's largest trading nations, with a highly globalized economy. In 2021, Canadian trade in goods and services reached $2.016 trillion.
Apr 16, 2024 · The Canadian economy is outperforming expectations and growing faster than other G7 countries, despite higher interest rates and inflation. The federal government is supporting Canadians with investments in jobs, growth, productivity, and competitiveness.
- The Canadian Economy by The Numbers
- Canada's Top Industries: Real Estate, Manufacturing, and Mining
- Canada's Top Trading Partners
- The Bottom Line
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Canadian 2022 GDP: $2.14 trillion (World Ranking: #9).Canadian 2022 GDP per Capita: $54,966.5 (World Ranking: #22).Canadian 2022 GDP Growth: 1.5%.Canadian 2022 Consumer Price Index(CPI) Inflation: 6.8%.Real Estate, Rental, and Leasing
Canada's real estate, rental, and leasing industry is comprised of establishments engaged in the following types of activities: real estate management; selling, renting, or buying real estate for others; appraising real estate; rental and leasing of tangible assets such as automotive equipment; and leasing of nonfinancial intangible assets such as copyrighted works. GDP for the industry, which employed about 283,777 people in 2022, rose 2.4% for the 12 months ending July 2023, according to th...
Manufacturing
Canada's manufacturing industry is engaged in the physical or chemical transformation of materials or substances into new products. These products may either be finished goods for consumption or semi-finished goods to be used in manufacturing processes. Canada's industries manufacture food, chemicals, petroleum, fabricated metal products, machinery, transportation equipment, and other products. GDP for the industry, which employed approximately 1.6 million people in 2022, decreased by 0.2% fo...
Mining, Quarrying, and Oil and Gas Extraction
Canada's mining, quarrying, and oil and gas extraction industry is primarily engaged in the extraction of naturally occurring minerals. The industry is dominated by oil and gas extraction, but other types of mining activity include mining coal and a range of metals, including gold, silver, copper, nickel, and more. Stone, sand, gravel, clay, and ceramic mining and quarrying are also part of the industry, as well as mining for potash. GDP for the industry, which employs approximately 207,000 p...
In June 2023, Canada's trade balance for goods and services was CAD$1 billion deficit. Total imports were CAD$64.4 billion and total exports were CAD$60.7 billion. Inventories, gross fixed capital formation, and exports each comprise roughly a third, respectively, of Canada's GDP, according to the Government of Canada. The country's top three tradi...
Canada is a highly developed nation with one of the largest economies in the world, impacting much of global trade. Its largest industries are real estate, mining, and manufacturing, and it is home to some of the largest mining companies in the world. A large portion of its GDP comes from international trade, with its largest trading partners being...
Learn about Canada's GDP, trade, industries, and major companies. Find out how real estate, manufacturing, and mining are key drivers of Canada's economy.
May 16, 2023 · Economic growth, measured on a year-over-year basis, slowed to 0.5% in the third quarter, the slowest pace since early 2021. Household disposable income, measured in current dollars, rose 1.0% in the third quarter, buoyed by increases in wages and salaries and government transfers.
May 8, 2023 · Overview. Authors. Economic growth stalls as domestic demand edges higher. Household incomes continue to rise. Business productivity continues to trend lower. Output growth slows in late 2022. Headline inflation eases while food prices continue to rise. Employment surges on gains in full-time work. Unmet demand for workers eases.
Nov 21, 2023 · Learn about Canada's economic performance, outlook, and challenges in the face of global inflation and interest rate hikes. Find out how the government's economic plan is supporting Canadians, investing in the future, and maintaining fiscal responsibility.
. Did you know? Canada’s gross domestic product (GDP) dropped from just over $1,986 billion in 2019 to a little over $1,884 billion in 2020. In 2021, we saw an increase in GDP to just over $1,977 billion, which is still lower than the level recorded in 2019. Data table for Chart 27. . Did you know?
