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

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 boosted by a surge in vehicles purchases 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. 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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Calendar GMT Actual Previous Consensus Forecast (i)
2016-11-30 01:30 PM Q3 0.9% -0.3% 1.5%
2017-03-02 01:30 PM Q4 0.6% 0.9% 0.8%
2017-05-31 12:30 PM Q1 0.9% 0.7% 0.8%
2017-08-31 12:30 PM Q2 0.9% 0.7%
2017-12-01 01:30 PM Q3 0.4%




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.

Household expenditure rose 1.1 percent, following a 0.7 percent gain the previous quarter. Outlays on goods grew 1.5 percent, mainly boosted by a 2.3 percent rise in purchase of vehicles. Outlays on services went up 0.7 percent. 

Business gross fixed capital formation rose 2.9 percent, following declines in eight of the previous nine quarters (-2.7 percent in the fourth quarter). Growth was driven by housing investment (3.7 percent from 1.5 percent in the previous quartert). New contruction investment increased 3.9 percent while ownership transfer costs grew 5.8 percent, largely due to strong resale activity in the Ontario market. Renovation activity increased 2.1 percent. Business investment in machinery and equipment rebounded (5.8 percent), following declines in four of the previous five quarters. The increase was concentrated in investment in industrial machinery and equipment (4.7 percent), computers and computer peripheral equipment (7.5 percent) and medium and heavy trucks, buses and other motor vehicles (5.8 percent), which were reflected in rising imports for all of these goods.

Businesses accumulated CAD 12.2 billion in inventories in the first quarter, following a draw-down of CAD 2.8 billion in the previous quarter.

Exports of goods and services edged down 0.1 percent, following a 0.2 percent gain in the fourth quarter. Exports of goods were unchanged overall, with increases in motor vehicles and parts (3.8 percent) and farm, fishing and intermediate food products (7 percent) offsetting declines in aircraft and other transportation equipment and parts (-11.7 percent) and metal ores and non-metallic minerals (-8.5 percent). Exports of services were down 0.5 percent, mostly due to a 1.1 percent decline in commercial services. Higher exports of travel services (0.9 percent) partially offset the decline.

Imports of goods and services rebounded with a 3.3 percent increase in the first quarter, offsetting a 3 percent decline in the fourth quarter. Increased imports of goods (3.7 percent) offset a 3.7 percent decline in the fourth quarter. The import of the Hebron oil platform in the third quarter led to 1.2 percent growth in that quarter and the subsequent decline in the fourth. Imports of services rose 1.3 percent in the first quarter.

Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
5/31/2017 1:02:03 PM



Canada GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.90 0.70 3.33 -2.30 percent [+]
GDP Annual Growth Rate 2.30 2.00 8.80 -4.10 percent [+]
GDP Growth Annualized 3.70 2.70 9.30 -9.10 percent [+]
GDP 1529.76 1552.81 1842.63 40.77 USD Billion [+]
GDP Constant Prices 1829325.00 1812746.00 1829325.00 760402.00 CAD Million [+]
Gross National Product 2077044.00 2042276.00 2077044.00 343908.00 CAD Million [+]
Gross Fixed Capital Formation 387311.00 378231.00 419349.00 134930.00 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 28115.00 27995.00 29136.00 17867.00 CAD Million [+]
GDP From Construction 119902.00 119831.00 129049.00 61200.00 CAD Million [+]
GDP From Manufacturing 177538.00 179731.00 201185.00 149258.00 CAD Million [+]
GDP From Mining 143954.00 142648.00 144021.00 99541.00 CAD Million [+]
GDP From Public Administration 108563.00 108234.00 108563.00 72280.00 CAD Million [+]
GDP From Services 1216694.00 1212091.00 1216694.00 683158.00 CAD Million [+]
GDP From Transport 77999.00 76883.00 77999.00 45420.00 CAD Million [+]
GDP From Utilities 37477.00 37391.00 38251.00 30324.00 CAD Million [+]


Canada GDP Growth Rate Notes

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 July of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.90 0.70 3.33 -2.30 1961 - 2017 percent Quarterly



gdp growth rate by Country

Last
China 1.70 Jun/17
India 1.50 Mar/17
Turkey 1.40 Mar/17
United States 1.40 Mar/17
South Korea 1.10 Mar/17
Brazil 1.00 Mar/17
Canada 0.90 Mar/17
Spain 0.80 Mar/17
Mexico 0.70 Mar/17
Euro Area 0.60 Mar/17
Germany 0.60 Mar/17
France 0.50 Mar/17
Italy 0.40 Mar/17
Netherlands 0.40 Mar/17
Australia 0.30 Mar/17
Japan 0.30 Mar/17
Switzerland 0.30 Mar/17
United Kingdom 0.20 Mar/17
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15