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. source: Statistics Canada

GDP Growth Rate in Canada averaged 0.76 percent from 1961 until 2021, reaching an all time high of 9.10 percent in the third quarter of 2020 and a record low of -11.30 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 May of 2022.

GDP Growth Rate in Canada is expected to be 0.20 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
2021-11-30 01:30 PM Q3 1.3% -0.8% 0.5%
2022-03-01 01:30 PM Q4 1.6% 1.3% 1.6%
2022-05-31 12:30 PM Q1 1.6% 1.4%


Related Last Previous Unit Reference
GDP Growth Rate 1.60 1.30 percent Dec 2021
GDP Growth Annualized 6.70 5.50 percent Dec 2021
GDP Annual Growth Rate 3.30 3.80 percent Dec 2021
GDP Constant Prices 2125350.00 2091318.00 CAD Million Dec 2021
Gross National Product 2576444.00 2492104.00 CAD Million Dec 2021
Gross Fixed Capital Formation 461075.00 452446.00 CAD Million Dec 2021
GDP From Utilities 42798.00 43823.00 CAD Million Feb 2022
GDP From Transport 76221.00 73955.00 CAD Million Feb 2022
GDP From Services 1450353.00 1436901.00 CAD Million Feb 2022
GDP From Public Administration 139041.00 137835.00 CAD Million Feb 2022
GDP From Mining 156626.00 151405.00 CAD Million Feb 2022
GDP From Manufacturing 192160.00 191352.00 CAD Million Feb 2022
GDP From Construction 156390.00 152255.00 CAD Million Feb 2022
GDP From Agriculture 42208.00 41614.00 CAD Million Feb 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
1.60 1.30 9.10 -11.30 1961 - 2021 percent Quarterly

News Stream
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
Canada GDP Back to Contraction in Q2
The Canadian economy unexpectedly shrank 0.3% on quarter in Q2 2021, ending three straight quarters of expansion mostly due to a decline in home resale activities and exports. So-called home ownership transfer costs shrank 17.7%, including all costs associated with the transfer of a residential asset from one owner to another. Meanwhile, international supply chain disruptions have constrained imports of parts mostly for the auto sector and led to a 4% decrease in exports. On a positive note, business inventories, government expenditure, business investment in machinery and equipment, and investment in new home construction and renovation were all higher. On an annualized basis, the Canadian economy contracted 1.1%, compared to forecasts of a 2.5% expansion.
2021-08-31