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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 per capita, rather than per tax filer, measure is chosen for comparability with GDP per capita.)
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]
Eastern Province: Province Saudi Arabia: Asia: 460 2021 4.9 94 Arizona: State United States: North America: 459 2022 [4] 7.4 62 Minnesota: State United States: North America: 446 2022 [4] 5.7 78 Lombardy: Administrative Region Italy: Europe: 463 2022 [7] 10.0 46 Gyeonggi Province: Province South Korea: Asia: 438 2022 [15] 13.5 32 Chongqing ...
Canada is divided into 10 provinces and three territories.The majority of Canada's population is concentrated in the areas close to the Canada–US border.Its four largest provinces by area (Ontario, Quebec, British Columbia, and Alberta) are also its most populous; together they account for 86.5 percent of the country's population.
The provinces and territories are sometimes grouped into regions, listed here from west to east by province, followed by the three territories.Seats in the Senate are equally divided among four regions: the West, Ontario, Quebec, and the Maritimes, with special status for Newfoundland and Labrador as well as for the three territories of Northern Canada ('the North').
KPMG calculated the Canadian corporate tax by adding the federal and provincial tax components. The federal component is 15%. Each of the ten provinces and three territories have 2 different tax rates, one which is lower for small businesses which ranges from 0 to 4.5%, and higher for all other corporations, which ranges from 11.5 to 16%. [33]
The Toronto-Dominion Centre in Toronto. The economy of Ontario is diversified.Ontario is the largest economy in Canada, making up around 38% of Canadian GDP. [1] [2] Though manufacturing plays an important role in Ontario's economy responsible for 12.6% of Ontario's GDP, the service sector makes up the bulk, 77.9%, of the economy. [3]
Today however, B.C.'s economy is more diverse, with service industries accounting for the largest portion (75%) of the province's gross domestic product (GDP). Over the past several decades, employment in resource industries has fallen steadily as a percentage of employment, and new job growth has occurred mostly in the construction, real ...