The GDP in Canada expanded 0.8% on quarter in the first three months of 2022, the weakest performance in three quarters, due to a 2.4% drop in international exports volumes, mostly energy products. Government spending also slowed as federal transfers to households continued to decline. Still, household spending rose 0.8%, a third consecutive quarterly increase, prompted by outlays on most goods and services even with limited capacity restrictions throughout Canada on in-person shopping and services. Also, investment in residential construction surged 4.3%, prompted by renovations (+9.3%), resale costs (+4.6%) and new construction (+0.2%). On an annualized basis, the economy expanded 3.1%, well below analysts' expectations of 5.4% and 6.6% in the previous period. The Bank of Canada in April projected second quarter growth at 6%. source: Statistics Canada

GDP Growth Rate in Canada averaged 0.76 percent from 1961 until 2022, reaching an all time high of 9 percent in the third quarter of 2020 and a record low of -11 percent in the second quarter of 2020. This page provides - Canada GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

GDP Growth Rate in Canada is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada GDP Growth Rate is projected to trend around 0.80 percent in 2023, according to our econometric models.

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Canada GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-01 01:30 PM Q4 1.6% 1.3% 1.6%
2022-05-31 12:30 PM Q1 0.8% 1.6% 1.4%
2022-08-31 12:30 PM Q2 0.8% 0.4%


Related Last Previous Unit Reference
GDP Growth Rate 0.80 1.60 percent Mar 2022
GDP Growth Annualized 3.10 6.60 percent Mar 2022
GDP Annual Growth Rate 2.90 3.20 percent Mar 2022
GDP Constant Prices 2140751.00 2124709.00 CAD Million Mar 2022
Gross National Product 2677132.00 2583856.00 CAD Million Mar 2022
Gross Fixed Capital Formation 474338.00 462135.00 CAD Million Mar 2022
GDP From Utilities 42110.00 42548.00 CAD Million Mar 2022
GDP From Transport 78184.00 75751.00 CAD Million Mar 2022
GDP From Services 1456235.00 1447476.00 CAD Million Mar 2022
GDP From Public Administration 140846.00 140073.00 CAD Million Mar 2022
GDP From Mining 154247.00 152133.00 CAD Million Mar 2022
GDP From Manufacturing 194667.00 192998.00 CAD Million Mar 2022
GDP From Construction 155408.00 153556.00 CAD Million Mar 2022
GDP From Agriculture 41593.00 41181.00 CAD Million Mar 2022

Canada GDP Growth Rate
Canada's economy is diversified and highly developed. Foreign trade is responsible for about 45 percent of the nation's GDP and the United States is by far the largest trade partner. On the expenditure side, household consumption is the main component of GDP and accounts for 58 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (19 percent). Exports of goods and services account for 32 percent of GDP while imports account for 33 percent, subtracting 1 percent of total GDP. Non-profit institutions serving households' final consumption expenditure and investment in inventories account for the remaining 2 percent.
Actual Previous Highest Lowest Dates Unit Frequency
0.80 1.60 9.00 -11.00 1961 - 2022 percent Quarterly

News Stream
Canada GDP Growth Slows to 0.8% in Q1
The GDP in Canada expanded 0.8% on quarter in the first three months of 2022, the weakest performance in three quarters, due to a 2.4% drop in international exports volumes, mostly energy products. Government spending also slowed as federal transfers to households continued to decline. Still, household spending rose 0.8%, a third consecutive quarterly increase, prompted by outlays on most goods and services even with limited capacity restrictions throughout Canada on in-person shopping and services. Also, investment in residential construction surged 4.3%, prompted by renovations (+9.3%), resale costs (+4.6%) and new construction (+0.2%). On an annualized basis, the economy expanded 3.1%, well below analysts' expectations of 5.4% and 6.6% in the previous period. The Bank of Canada in April projected second quarter growth at 6%.
2022-05-31
Canada GDP Expands 1.6% in Q4
The Canadian economy grew by 1.6 percent in the fourth quarter of 2021, the most in 4 quarters and following a 1.3 percent expansion in the third quarter. Investment in inventories rebounded (CAD 22 billion in Q4 vs CAD -19.6 billion in Q3), largely due to the accumulation of business inventories in manufacturers and wholesalers. Also, business gross fixed capital formation grew by 2 percent (vs -4.4 percent), lifted by residential structures (2.4 percent vs -8.9 percent). On the other hand, net foreign demand contributed negatively to GDP, due to a rebound in imports (3.4 percent vs -0.4 percent) while exports grew to a lesser extent (3.2 percent vs 1.7 percent). Meanwhile, on an annualized basis the GDP grew 6.7%, beating analyst expectations of 6.5 percent and quickening from an upwardly revised 5.50 percent expansion in the third quarter of 2021, Considering the full 2021, the economy expanded 4.6 percent, after a 5.2 percent contraction in 2020.
2022-03-01
Canada GDP Rebounds in Q3
The Canadian economy rebounded by 1.3% on quarter in 3Q 2021, following an upwardly revised 0.8% contraction in the previous period, underpinned by household spending and exports as pandemic restrictions were phased out. Final consumption expenditure advanced at a faster pace (2.9% vs 0.1% in Q2), mainly boosted by household spending (4.2% vs -0.1%) and spending of non-profit institutions serving households final expenditure (1.3% vs 0.6%), while government consumption decreased (-0.2% vs 0.7%). Net external demand also improved, as exports rose 1.9% (vs -4.5% in Q2) and imports edged down 0.6% (vs 0.5% in Q2). Still, gross fixed capital formation deteriorated further (-3.6% vs -0.5%) due to a significant decline in housing investments, which coupled with withdrawals of inventories capped some of the upward momentum.
2021-11-30