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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]
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.
This article lists Canadian provinces and territories by gross domestic product (GDP). While Canada's ten provinces and three territories exhibit high per capita GDPs , there is wide variation among them.
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.
The rankings of national economies over time have changed considerably; the economy of the United States surpassed the British Empire's output around 1916, [6] which in turn had surpassed the economy of the Qing dynasty in aggregate output decades earlier.
The International Labour Organization ranked Canada 26th in labour productivity, tied with Hong Kong and Spain, while the United States maintained a stronger position at 13th. The Business Council of British Columbia reported that Canadian economic productivity relative to the United States had declined from 82% in 2000 to 77% by 2020.
Countries in North America are sorted by nominal GDP estimates based on 2023 data from the World Economic Outlook by the International Monetary Fund. [ 1 ] The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations ...
The table is initially ranked by the average of the available estimates for each country or territory, and can be reranked by any of the sources. The links in the "Country/Territory" row of the following table link to the article on the GDP or the economy of the respective country or territory.