Canada's economy contracted 0.1% year-on-year in the first quarter of 2026, the first decline since 2020, following a 0.7% growth in the last three months of 2025. GDP Annual Growth Rate in Canada averaged 3.03 percent from 1962 until 2026, reaching an all time high of 12.90 percent in the second quarter of 2021 and a record low of -12.20 percent in the second quarter of 2020. source: Statistics Canada
GDP Annual Growth Rate in Canada is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada GDP Annual Growth Rate is projected to trend around 2.60 percent in 2027 and 2.50 percent in 2028, according to our econometric models.
In Canada, services account for more than 70 percent of GDP. Within services the most important are: finance, insurance, real estate, rental and leasing and management of companies and enterprises (21 percent of total GDP); retail and wholesale trade (12 percent), health (8 percent) and public administration (6 percent). Manufacturing accounts for 13 percent of the output and construction for 6 percent. Mining and oil and gas extraction constitute only 4 percent of GDP, yet Canada is a net exporter of energy. Finally, agriculture, forestry, fishing and hunting account for 2 percent of output. 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 |
|
|
-0.10 |
0.70 |
12.90 |
-12.20 |
1962 - 2026 |
percent |
Quarterly |
Constant Prices 2017, SA
|