Countries
Canada
Key Economic Indicators
$2.67 trillion
$64,610
1.55%
2.38%
6.91%
$2.241 trillion (2024 est.)
65 % of GDP
$-10,348,860,554
Economic Overview
<p>high-income economy and second-largest US trading partner; key timber, oil, and gas industries; trade uncertainties and weak business investments contributing to economic slowdown; high and growing public debt; inflation moderating but remains above target range</p>
All Economic Data
Agricultural products
wheat, rapeseed, maize, milk, barley, soybeans, potatoes, peas, oats, pork (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
3.5% of household expenditures (2023 est.)
On food:
9.7% of household expenditures (2023 est.)
Budget
Expenditures:
$417.421 billion (2023 est.)
Note:
<b>note:</b> central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated
Revenues:
$428.312 billion (2023 est.)
Currency
code:
CAD
name:
Canadian dollar (CAD) [$]
Current account balance
$-10,348,860,554
Current account balance 2022:
-$6.318 billion (2022 est.)
Current account balance 2023:
-$13.764 billion (2023 est.)
Current account balance 2024:
-$10.349 billion (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Exchange rates
Currency:
Canadian dollars (CAD) per US dollar -
Exchange rates 2020:
1.341 (2020 est.)
Exchange rates 2021:
1.254 (2021 est.)
Exchange rates 2022:
1.302 (2022 est.)
Exchange rates 2023:
1.35 (2023 est.)
Exchange rates 2024:
1.369 (2024 est.)
Exports
$727.92 billion
Exports 2022:
$743.782 billion (2022 est.)
Exports 2023:
$724.754 billion (2023 est.)
Exports 2024:
$727.831 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
crude petroleum, cars, gold, natural gas, refined petroleum (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
USA 71%, China 5%, UK 3%, Japan 2%, Mexico 2% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$63.05 billion
GDP - composition, by end use
Exports of goods and services:
33.3% (2023 est.)
Government consumption:
20.9% (2023 est.)
Household consumption:
54.4% (2023 est.)
Imports of goods and services:
-33.3% (2023 est.)
Investment in fixed capital:
22.9% (2023 est.)
Investment in inventories:
1% (2023 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
1.6% (2021 est.)
Industry:
25.3% (2021 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
66.4% (2021 est.)
GDP (official exchange rate)
$2.241 trillion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$54,340
Gini Index coefficient - distribution of family income
33.3 (2017)
Gini Index coefficient - distribution of family income 2020:
29.9 (2020 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$2.21 trillion
GNI per capita
$53,400
Gross domestic investment
23 % of GDP
Household income or consumption by percentage share
Highest 10%:
23.4% (2020 est.)
Lowest 10%:
3.5% (2020 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$733.81 billion
Imports 2022:
$731.058 billion (2022 est.)
Imports 2023:
$723.399 billion (2023 est.)
Imports 2024:
$733.778 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
cars, trucks, vehicle parts/accessories, refined petroleum, crude petroleum (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
USA 51%, China 11%, Mexico 6%, Germany 3%, Japan 3% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
0% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum, natural gas
Inflation rate (consumer prices)
2.38%
Inflation rate (consumer prices) 2022:
6.8% (2022 est.)
Inflation rate (consumer prices) 2023:
3.9% (2023 est.)
Inflation rate (consumer prices) 2024:
2.4% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
22.868 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
22.84 million persons
Labor force - by occupation
agriculture:
1.1%
industry:
18.75%
services:
80.15%
Public debt
65 % of GDP
Note:
<b>note:</b> central government debt as a % of GDP
Public debt 2023:
61.3% of GDP (2023 est.)
Real GDP (purchasing power parity)
$2.67 trillion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$2.271 trillion (2022 est.)
Real GDP (purchasing power parity) 2023:
$2.305 trillion (2023 est.)
Real GDP (purchasing power parity) 2024:
$2.341 trillion (2024 est.)
Real GDP growth rate
1.55%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
4.2% (2022 est.)
Real GDP growth rate 2023:
1.5% (2023 est.)
Real GDP growth rate 2024:
1.5% (2024 est.)
Real GDP per capita
$64,610
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$58,300 (2022 est.)
Real GDP per capita 2023:
$57,500 (2023 est.)
Real GDP per capita 2024:
$56,700 (2024 est.)
Remittances
$851.44 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022:
0% of GDP (2022 est.)
Remittances 2023:
0% of GDP (2023 est.)
Remittances 2024:
0% of GDP (2024 est.)
Reserves of foreign exchange and gold
$119.78 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$106.952 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$117.551 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$119.778 billion (2024 est.)
Revenue (excl grants)
21 % of GDP
Tax revenue
14 % of GDP
Taxes and other revenues
13.8% (of GDP) (2023 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
6.91%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
5.3% (2022 est.)
Unemployment rate 2023:
5.5% (2023 est.)
Unemployment rate 2024:
6.5% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
12.1% (2024 est.)
Male:
13.8% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
13% (2024 est.)
World Bank Indicators
Currency
Canadian dollar (CAD) $ (2025)
Exports (US$)
$727.92B (2024)
FDI Net Inflows (US$)
$63.05B (2024)
GDP Growth (%)
1.55 (2024)
Gdp Nominal
$2,243.64B (2024)
GDP Per Capita
54,340 (2024)
Gini Index
33.30 (2017)
Govt Debt Pct Gdp
64.90 (2024)
Imports (US$)
$733.81B (2024)
Inflation Rate (%)
2.38 (2024)
Languages
English, French (2025)
Reserves
$119.78B (2024)
Unemployment Rate (%)
6.35 (2024)
Youth Unemployment
13.28 (2024)
Economic Rankings
GDP (Nominal)
#9
Imports
#12
Exports
#13
GDP (PPP)
#16
Reserves
#23
GDP per Capita
#27
Unemployment Rate
#68
GDP Growth Rate
#119
Inflation Rate
#128
Gini Index
#130
Quick Facts
Industries
transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum, natural gas
Agricultural products
wheat, rapeseed, maize, milk, barley, soybeans, potatoes, peas, oats, pork (2023)
Labor force
22.868 million (2024 est.)
Exports - partners
USA 71%, China 5%, UK 3%, Japan 2%, Mexico 2% (2023)
Imports - partners
USA 51%, China 11%, Mexico 6%, Germany 3%, Japan 3% (2023)
Exchange rates
Canadian dollars (CAD) per US dollar -
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