Overall

The Economy of Canada in 2023 - Industry & Market Trends

Last Updated: March 29, 2024

What is The Overall Outlook in Canada ?

Canada - Real GDP Growth

Note: Real GDP Growth (%) | Forecast After 2023 (IMF)

Intro

About OOSGA

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Economic Structure

The latest GDP update was in October 2023, updating the data on the contribution of GDP output in various sectors for the year 2022, as a proportion of the total GDP. The data is sourced from the World Bank, IMF, and local government statistics. Predictions on the sources of GDP contribution are from the EIU.

Private Consumption

54.4%

Gov Expenditure

21%

Capital Formation

23.1%

Export

33.8%

Import

33.6%

Economic Growth（By Type）

Note: Real GDP Growth (%) | Forecast After 2023 (EIU)

Overall Economic Outlook in Canada?

Population

37.593 million

Land Size

8965590 km²

GDP

2.14 trillion

GDP Per Capita

55037 USD

Unemployment

5.3 %

Inflation

6.8 %

Urbanization

81.5 %

TFR

1.5 Child

GDP Per Capita

Note: Real Growth (%) | Forecast After 2023 (IMF)

GDP Per Capita (PPP)

Note: Real Growth (%) | Forecast After 2023 (IMF)

Unemployment Rate

Note: %

Inflation Rate

Note: %

Other Economies

Industry Structure

Agriculture

2.2%

Industry

26.7%

Manufacturing

9.5%

Service

71.1%

Economic Growth（By Sector）

Note: Real GDP Growth (%) | Forecast After 2023 (EIU)

Demographics Overview

Population +

327 k people

Birth

376 k people

Death

298 k people

Net Migration

249 k people

Canada - Population Growth Drivers

Note: % | forecast after 2023

Canada - Age Structure - Historical & Forecast

Note: % | forecast after 2023

Natural Growth

2 ‰

Net Migration

6.5 ‰

Young Dependency

24 %

Old Dependency

28.2 %

Canada - Median Age

Note: Age

Canada - Demographic Structure

Source: UN Population; OOSGA Analytics

Political Overveiw

Canada - Government Spending (% of GDP)

Note: （%）｜2023後為預測（IMF）

Current Account Balance

-7 Billion

Current Account Balance (% of GDP)

-0.3 %

Gov Net Landing/Borrowing（% of GDP）

-0.8 %

Gov Gross Debt（% of GDP）

107.4 %

Canada - Current Account Balance

note: (% of GDP) | Forecast After 2023

Canada - Gross Debt

note: (% of GDP) | Forecast After 2023

Consumer Brief

We have consolidated data on Canada’s e-commerce, social media, and insights relate to how customers in Canada make decisions and spend.

E-Commerce

Social Media Development, User Demographics, Platforms, and Trends in Canada

Social Media

Social Media Development, User Demographics, Platforms, and Trends in Canada

Reference

Economic Data：OECD, World Bank, IMF、Government Statistics Bureau
Currency Exchange：Based on IMF data in 2023/1
GDP Growth Projection：OECD、IMF, OECD, EIU、Government Bureau
Demographics：UN Population Database
Race, Culture, and Languages：CIA Factbook
Unemployment Rate Projection：ILO, UNECE
Trade：UN Comtrade, UNCTD
ICT Infrastructure：ITU
Data Calculation & Regression：OOSGA.org
Analysis：OOSGA Analytics

Author: Economic Team, CR Team

We track the latest economic developments from spending, retail, real estate to demographics in major economics around the world.

The Economy of Canada in 2023 - Industry & Market Trends