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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...
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 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.
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.
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....
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.