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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]
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 economy is highly developed and one of the largest in the world. In 2022, the country's annual gross domestic product (GDP) was $2.14 trillion in current USD, according to the...
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.
The Canadian Economic Tracker presents selected monthly indicators from Statistics Canada's Common Output Database Repository (CODR) to highlight interrelated dynamics within the Canadian economy.
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.
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.
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.
Statistics Canada reported on Friday that the economy added 47,000 jobs in September, while the unemployment rate declined for the first time since January to 6.5 per cent. Full-time employment ...
Canada GDP Growth Rate. The Canadian economy advanced by 0.5% in the second quarter of 2024, following a 0.4% rise in the previous period marking its second consecutive quarter of expansion. This growth was primarily driven by a 1.5% rise in government spending, fueled by higher wages, and a rebound in federal, provincial, and territorial ...