Canada has the 10th largest economy in the world and is one of the richest countries in the world. The gross domestic product (GDP) of Canada is $1,550.54 (USD Billion) and its growth was 1.08% from 2014 to 2015. Its highest GDP was recorded in 2013 and its average GDP in the last 10 years is $1,609.88 (USD Billion).
Canada GDP per capita is $43,248.53 (USD). However, when factoring in purchase power parity (PPP), it becomes $44,310.12 (USD), making it the 22nd richest country in the world. The average GDP adjusted to PPP per capita in the last 10 years was $41,379.33 (USD).
Although three quarters of Canadian citizens are employed by the service sector, Canada is unique for the importance of its primary sector. This is mainly thanks to its wealth of natural resources, which includes oil and lumber. It is estimated that Canada is home to as many as 172 billion barrels of oil, the vast majority of which is located in the western province of Alberta. Canada is a popular exporter of oil and refined products. As Canada is one of the only countries in the world to border three oceans (the Atlantic in the east, the Pacific in the west, and the Arctic to the north), the fishing industry also composes part of the primary sector. Canada also has a strong manufacturing sector, mostly taking place in industrial areas of the country in the central-eastern provinces of Ontario and Quebec.
Although Canada has a distinct economy of its own, the country shares a close trade relationship with its neighbor, the United States. The 1994 introduction of NAFTA, (the North American Free Trade Agreement), has further increased trade between the countries.
The unemployment in Canada nationwide is 6.5%. In the near future, it is predicted that Canada will experience a labor shortage due to the mass retirement of the country's large baby boomer generation. It is predicted that millions of jobs may go unfilled in Canada.
GDP Of Canada Per Year
Canada's GDP & Other Economic Statistics
|GNI per capita, PPP||43,970.00||44,490.00||44,490.00||International $|
|GNI, PPP||1,576.52||1,581.17||1,581.17||International $ Billion|
|Gross domestic savings||330.58||415.52||424.01||USD Billion|
|GDP per capita, PPP||44,310.12||45,025.03||45,025.03||International $|
|GDP per capita growth||0.21||1.35||2.13||%|
|GDP per capita||43,248.53||50,185.48||52,495.29||USD|
|Gross fixed capital formation||361.63||424.68||447.92||USD Billion|
|Tax revenue||11.82||11.72||13.36||% of GDP|
|Services, etc., value added||1,184.20||1,154.81||1,184.20||USD Billion|
|Industry, value added||493.17||492.27||493.17||USD Billion|
|Manufacturing, value added||189.34||184.18||189.34||USD Billion|
|Agriculture, value added||30.05||28.72||30.05||USD Billion|
What is Gross Domestic Product (GDP)?
Gross Domestic Product (GDP) is a measure of market value of all final goods and service produced in a yearly period. This page provides the GDP of Canada – current values and historical information. The information was last updated 2016.
GDP Of Canada vs. Other Countries
|Rank||Country||GDP (USD Billion), 2015|
|5||The United Kingdom||2,848.76|