Canada GDP Growth Rate  1961-2017 | Data | Chart | Calendar | Forecast

The Canadian economy expanded 1.1 percent on quarter in the three months to June of 2017, following a 0.9 percent growth in the previous period. It is the highest growth rate since the third quarter of 2011, mainly boosted by household consumption and exports of goods. The cumulative growth for the first two quarters of the year was 2 percent, the strongest since 2002. GDP Growth Rate in Canada averaged 0.79 percent from 1961 until 2017, reaching an all time high of 3.33 percent in the fourth quarter of 1963 and a record low of -2.30 percent in the first quarter of 2009.

Canada GDP Growth Rate
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Canada GDP Growth at Near 6-Year High in Q2


The Canadian economy expanded 1.1 percent on quarter in the three months to June of 2017, following a 0.9 percent growth in the previous period. It is the highest growth rate since the third quarter of 2011, mainly boosted by household consumption and exports of goods. The cumulative growth for the first two quarters of the year was 2 percent, the strongest since 2002.

Household spending on goods advanced 1.9 percent, with outlays on durables, semi-durables and non-durables all increasing. Outlays on services rose 0.5 percent Overall, household final consumption expenditure advanced 1.1 percent in the second quarter, after increasing 1.2 percent the previous quarter.

Growth in export volumes accelerated to 2.3 percent, following a 0.4 percent gain in the first quarter. Exports of goods rose 2.8 percent with energy products (+9.2 percent) contributing the most to the increase. Exports of services edged down 0.1 percent as commercial services fell 0.6 percent.

Imports rose 1.8 percent, about half the pace of the previous quarter. Imports of goods increased 2.5 percent while those of services declined 1 percent.

Business gross fixed capital formation slowed to 0.5 percent growth, following a 3.1 percent increase in the first quarter. The deceleration was mostly attributable to lower investment in housing (-1.2 percent). Business investment in non-residential structures rose 2.4 percent after increasing 1 percent in the first quarter.

Businesses accumulated another CAD 11.5 billion in inventories in the second quarter, after adding CAD 10.5 billion to their stocks in the first. Despite the strong inventory accumulation, the stock-to-sales ratio declined 0.8 percent.

Expressed at an annualized rate, real GDP rose 4.5 percent in the second quarter, above 3.7 percent in the previous period and market expectations of 3.7 percent. It is the strongest growth rate since the third quarter of 2011.

Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
8/31/2017 12:58:30 PM


Recent Releases

Canada GDP Growth Beats Expectations In Q1
The Canadian economy advanced 0.9 percent on quarter in the first three months of 2017, following an upwardly revised 0.7 percent expansion in the previous period. Growth was led by a surge in household purchases of vehicles and a rebound in business investment while exports fell. Expressed at an annualized rate, the GDP rose 3.7 percent, beating expectations of 3.6 percent.
Published on 2017-05-31

Canada GDP Growth Slows to 0.6% In Q4
The Canadian economy expanded 0.6 percent on quarter in the last three months of 2016, slowing from a 0.9 percent growth in the previous quarter. Final domestic demand continued to decelerate, with ongoing weakness in business investment. Considering full 2016, the economy expanded 1.4 percent, following a 0.9 growth in 2015.
Published on 2017-03-02

Canada GDP Growth At 2-Year High of 0.9% in Q3
The Canadian economy expanded 0.9 percent on quarter in the three months to September of 2016, following a downwardly revised 0.3 percent contraction in the previous period. It is the highest growth rate since the second quarter of 2014, boosted by exports of energy while domestic demand slowed. Expressed at an annualized rate, the economy expanded 3.5 percent, better than market expectations of 3.4 percent.
Published on 2016-11-30

Canada GDP Contracts 0.4% QoQ in Q2
The Canadian economy shrank 0.4 percent on quarter in the three months to June of 2016, following a 0.6 percent rise in the previous period. It is the first contraction in four quarters and the biggest since 2009 caused by a decline in crude petroleum output due to continued weakness in the energy sector and the wildfire in Alberta.
Published on 2016-08-31



Calendar GMT Actual Previous Consensus TEForecast
2017-03-02 01:30 PM GDP Growth Rate QoQ 0.6% 0.9% 0.8%
2017-05-31 12:30 PM GDP Growth Rate QoQ 0.9% 0.7% 0.8%
2017-08-31 12:30 PM GDP Growth Rate QoQ 1.1% 0.9% 0.7%
2017-12-01 01:30 PM GDP Growth Rate QoQ 0.4%


Canada GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.10 0.90 3.33 -2.30 percent [+]
GDP Annual Growth Rate 3.70 2.30 8.80 -4.10 percent [+]
GDP Growth Annualized 4.50 3.70 12.60 -9.10 percent [+]
GDP 1529.76 1552.81 1842.63 40.77 USD Billion [+]
GDP Constant Prices 1849280.00 1829325.00 1849280.00 760402.00 CAD Million [+]
Gross National Product 2091832.00 2077600.00 2091832.00 39836.00 CAD Million [+]
Gross Fixed Capital Formation 389603.00 387752.00 419349.00 52611.00 CAD Million [+]
GDP per capita 50231.90 50109.90 50231.90 17664.20 USD [+]
GDP per capita PPP 43087.80 42983.10 43087.80 30115.28 USD [+]
GDP From Agriculture 27710.00 27790.00 29136.00 17867.00 CAD Million [+]
GDP From Construction 121752.00 119356.00 129049.00 61200.00 CAD Million [+]
GDP From Manufacturing 180735.00 180438.00 201185.00 149258.00 CAD Million [+]
GDP From Mining 150534.00 150907.00 150907.00 99541.00 CAD Million [+]
GDP From Public Administration 108691.00 108588.00 108691.00 72280.00 CAD Million [+]
GDP From Services 1221319.00 1219193.00 1221319.00 683158.00 CAD Million [+]
GDP From Transport 78572.00 78126.00 78572.00 45420.00 CAD Million [+]
GDP From Utilities 38622.00 38372.00 38622.00 30324.00 CAD Million [+]


Canada GDP Growth Rate

Canada's economy is diversified and highly developed. The foundation of Canadian economy is foreign trade and the United States is by far the nation's largest trade partner. Foreign trade is responsible for about 45 percent of the nation's gross domestic product (GDP). Canada is one of the few developed nations that is a net exporter of energy. This page provides - Canada GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.10 0.90 3.33 -2.30 1961 - 2017 percent Quarterly




gdp growth rate by Country

Last
Indonesia 4.00 Jun/17
United States 3.00 Jun/17
Turkey 2.10 Jun/17
China 1.70 Jun/17
India 1.50 Mar/17
Netherlands 1.50 Jun/17
Canada 1.10 Jun/17
Spain 0.90 Jun/17
Australia 0.80 Jun/17
Euro Area 0.60 Jun/17
Germany 0.60 Jun/17
Japan 0.60 Jun/17
Mexico 0.60 Jun/17
South Korea 0.60 Jun/17
France 0.50 Jun/17
Italy 0.40 Jun/17
Switzerland 0.30 Jun/17
United Kingdom 0.30 Jun/17
Brazil 0.20 Jun/17
Russia -0.57 Sep/15