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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]
The economies of Canada and the United States are similar because both are developed countries.While both countries feature in the top ten economies in the world in 2022, the U.S. is the largest economy in the world, with US$24.8 trillion, with Canada ranking ninth at US$2.2 trillion.
A table listing total GDP (expenditure-based), share of Canadian GDP, population, and per capita GDP in 2023. For illustrative purposes, market income (total income less government transfers) [1] per capita from tax returns is included.
The 0.2 per cent increase was in line with estimates. Early estimates point to stronger growth in February.
Canada’s economy has already showed vulnerability coming out of a period of inflation, causing the country’s central bank to cut interest rates much faster than the Federal Reserve. That gap ...
The Canadian economy boomed during the war as its industries manufactured military materiel for Canada, Britain, China, and the Soviet Union. [80] Despite another Conscription Crisis in Quebec in 1944, Canada finished the war with a large army and strong economy.
Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland speaks to news media in Ottowa on Nov. 30, 2020. Freeland resigned from Prime Minister Justin Trudeau's government on Dec ...
Canada's economic position has shifted dramatically since the 1980s, when it maintained a nearly US$4,000 advantage in per capita GDP compared to an average of "advanced" economies, including the United Kingdom, the United States, France, Germany, Italy, and Japan. By 2000, the United States had established a US$8,000 lead over Canada.