The economy of Canada is a highly developed mixed economy, [33] [34] [35] the world's ninth-largest as of 2024, 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] In 2021, Canadian trade in goods and services reached $2.016 trillion. [37]

Nov 11, 2024 · Canada has the tenth-largest economy in the world as of 2024, with a GDP of $2.14 trillion in USD in 2023. International trade, including both exports and imports, is a large component of...

Jan 29, 2025 · The Canadian economy continues to be in modest excess supply. The output gap is estimated to be between -1.25% and -0.25% in the fourth quarter, roughly unchanged from the third quarter. Due to upward revisions to the level of GDP, there is slightly less excess supply than at the time of the October Report (see Changes to the projection in the ...

Sep 12, 2024 · Canada's relatively weak economic growth, combined with a population boom, has hit its standing among wealthy countries. It's one reason why Prime Minister Justin Trudeau has turned to...

Apr 16, 2024 · Inflation has fallen from its June 2022 peak of 8.1 per cent to 2.9 per cent in January and to 2.8 per cent in February 2024. The labour market remains solid. Over 1.1 million more Canadians are employed today than before the pandemic, marking the fastest jobs recovery in the G7 (Chart 1).

Oct 25, 2023 · Economic activity slowed toward mid-2023 as businesses and households continued to adjust to higher borrowing costs. Household spending moderated in the second quarter as outlays on consumer durables declined. Investment in housing continued to pull back as declines in new construction offset stronger activity in home resale markets.

Major economic indicators in Canada are slowly returning to pre-pandemic levels. Manufacturing's share of employment and GDP has been on the decline since the 1970s, while services have steadily increased. Canada is relatively more reliant on resources compared to any other developed nations.

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.

Jan 22, 2025 · 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....

Jan 29, 2025 · The economy report card provides a unique assessment of Canada’s performance relative to its peers across 17 indicators organized into three dimensions: economic prosperity, distribution of economic prosperity, and global integration.