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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]
In 2024, Canada's federal government spending reached unprecedented levels, with the Trudeau government's spending patterns marking significant records in the economic history of Canada. Between 2018 and 2024, the administration recorded the seven highest years of per-person spending in Canada's history.
While Canada's ten provinces and three territories exhibit high per capita GDPs, there is wide variation among them. Ontario , the country's most populous province, is a major manufacturing and trade hub with extensive linkages to the northeastern and midwestern United States .
Oxford also expects the economy to grow 1.4% this year, well below the 2.6% gain it had expected, assuming the China, Canada and Mexican tariffs are imposed and remain in effect. 'I can either ...
OTTAWA (Reuters) -Canadian business and labor leaders will meet in Toronto this Friday to discuss diversifying trade and boosting the economy in the wake of U.S. threats to impose tariffs, Prime ...
The tariffs, meanwhile, also would lower economic growth by a hefty 1.2 percentage points this year, from 2.6% to 1.4%, Sweet estimated. The higher costs would force consumers to reduce their ...
China's global e-commerce market share has grown rapidly from less than 1% in c. 1998 to 42% in 2018. China now has second largest economy in the world with a value of US$14 trillion. [6] In 2024 the Canada's General government gross debt-to-GDP ratio was 106%, [7] compared to the United States at 121 %. [8]
TORONTO (Reuters) -Prime Minister Justin Trudeau on Friday said U.S. President Donald Trump's talk about absorbing Canada "is a real thing" and is linked to the country's rich natural resources, a ...