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The economy of Canada is a highly developed mixed economy, [33][34][35] with the world's tenth-largest economy as of 2023, and a nominal GDP of approximately US$ 2.117 trillion. [6] Canada is one of the world's largest trading nations, with a highly globalized economy. [36]
Canada has the ninth-largest economy in the world as of 2022, with a GDP of $2.14 trillion in USD. International trade, including both exports and imports, is a large component of Canada's...
Canada’s economy is dominated by the private sector, though some enterprises (e.g., postal services, some electric utilities, and some transportation services) have remained publicly owned. During the 1990s some nationalized industries were privatized.
Economic and Fiscal Overview. On this page: 1. Recent Economic Developments. 2. Canadian Economic Outlook. 3. Fiscal Outlook. The Canadian economy is outperforming expectations. In the face of higher interest rates, Canada has avoided the recession that some had predicted.
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.
Following a strong recovery from the pandemic recession, Canada's economy has remained resilient. Our unemployment rate remains low, over a million more Canadians are employed compared to when the pandemic hit, and wage growth has outpaced inflation for the past nine months.
Overview. Economic growth stalls as consumers rein in spending. Household incomes continue to rise. Business productivity trends lower as labour costs rise. Declines in homebuilding and retail activity toward mid-year. Business openings slow at the mid-year mark. Inflation eases but consumer prices continue to edge higher.
The pace of the economic recovery slowed during the first half of 2021 as supply chain disruptions and third wave restrictions weighed on activity. Consumer prices rose steadily during the first half, as gasoline, shelter, and durables put upward pressure on headline inflation.
As one of the top 20 countries with the largest GDP worldwide, Canada plays a significant role in the global economy. In 2023, their GDP amounted to more than two trillion U.S. dollars....
Economy. Risk. Regulation. Business. Industry. In brief. The economy is on the verge of recession as a consequence of an aggressive tightening of monetary policy by the Bank of Canada (BoC, the central bank) to bring down rapid consumer price inflation.