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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 did have a deeper recession than America after covid struck, partly because of stricter and longer lockdowns. Its GDP fell by 5% in 2020, compared with 2.2% in America. But Canada soon ...
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.
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.
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.
Economic activity rose during the first two quarters of 2022 as consumer spending and business stockpiling contributed to growth. Export volumes rebounded in the second quarter as import volumes rose at their fastest pace since early in the pandemic.
The snapshot offers a concise summary of Canada's economic trends and prospects, drawing from the OECD Economic Survey, Economic Outlook, and Economic Policy Reform: Going for Growth reports, delivering in-depth analyses of economic trends, suggested policy recommendations, alongside an overview of structural policy developments.
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 economy grew 6.7 per cent in the fourth quarter on an annualized basis, beating analyst expectations of 6.5 per cent, while January GDP most likely rose 0.2 per cent after...