The Gross Domestic Product (GDP) in Canada expanded 2.21 percent in the first quarter of 2023 over the same quarter of the previous year. source: Statistics Canada

GDP Annual Growth Rate in Canada averaged 3.05 percent from 1962 until 2023, reaching an all time high of 12.10 percent in the second quarter of 2021 and a record low of -12.20 percent in the second quarter of 2020. This page provides - Canada GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

GDP Annual Growth Rate in Canada is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada GDP Annual Growth Rate is projected to trend around 1.50 percent in 2024 and 2.00 percent in 2025, according to our econometric models.

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Canada GDP Annual Growth Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2013-03-01 01:30 PM Q4 2012 1.1% 1.5%


Related Last Previous Unit Reference
GDP Growth Rate 0.80 0.00 percent Mar 2023
GDP Growth Annualized 3.10 -0.10 percent Mar 2023
GDP Annual Growth Rate 2.21 2.07 percent Mar 2023
GDP Constant Prices 2202921.00 2185910.00 CAD Million Mar 2023
Gross National Product 2776624.00 2744884.00 CAD Million Mar 2023
Gross Fixed Capital Formation 450484.00 451535.00 CAD Million Mar 2023
GDP from Utilities 43175.00 43143.00 CAD Million May 2023
GDP from Transport 86823.00 86981.00 CAD Million May 2023
GDP from Services 1498426.00 1491310.00 CAD Million May 2023
GDP from Public Administration 146716.00 144716.00 CAD Million May 2023
GDP from Mining 155302.00 159940.00 CAD Million May 2023
GDP from Manufacturing 199416.00 196244.00 CAD Million May 2023
GDP from Construction 150514.00 151683.00 CAD Million May 2023
GDP from Agriculture 41608.00 42064.00 CAD Million May 2023

Canada GDP Annual Growth Rate
In Canada, services account for more than 70 percent of GDP. Within services the most important are: finance, insurance, real estate, rental and leasing and management of companies and enterprises (21 percent of total GDP); retail and wholesale trade (12 percent), health (8 percent) and public administration (6 percent). Manufacturing accounts for 13 percent of the output and construction for 6 percent. Mining and oil and gas extraction constitute only 4 percent of GDP, yet Canada is a net exporter of energy. Finally, agriculture, forestry, fishing and hunting account for 2 percent of output. On the expenditure side, household consumption is the main component of GDP and accounts for 58 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (19 percent). Exports of goods and services account for 32 percent of GDP while imports account for 33 percent, subtracting 1 percent of total GDP. Non-profit institutions serving households' final consumption expenditure and investment in inventories account for the remaining 2 percent.
Actual Previous Highest Lowest Dates Unit Frequency
2.21 2.07 12.10 -12.20 1962 - 2023 percent Quarterly