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...

Dec 16, 2024 · To keep Canadians safe, the 2024 Fall Economic Statement proposes to make a significant, $1.3 billion investment to secure our borders. The government intends to implement stricter bail and sentencing laws and take assault-style weapons off our streets.

Oct 23, 2024 · Economy-wide output rose 0.2% in July, supported by increases in retail trade, finance and insurance, and public sector industries. Manufacturing output increased in July as production rose at chemical and food manufacturing plants.

4 days ago · 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 ...

Apr 16, 2024 · The Canadian economy is doing better than expected. In the face of rapid and substantial increases in interest rates to tame inflation, growth has slowed but outperformed expectations in 2023.

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.

Oct 23, 2024 · Economic growth in Canada is forecast to pick up gradually and average 2¼% over the projection. Inflation is expected to remain near the 2% target. Economic activity is boosted by lower interest rates, which strengthen household and business spending. Exports also support growth.

Jan 16, 2025 · 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.