Canada ranked 9/197 by economy size with a GDP of $2.24T and 20/197 by GDP per capita at $54,340. Canada has $2.5T in government debt, with a debt-to-GDP ratio of 111.3%.
In 2024, Canada made up 2.02% of the world's economy, compared to 2.97% in 1960.
Canada GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2024 | $2,243,636,826,634 | 1.55% |
| 2023 | $2,173,339,670,064 | 1.53% |
| 2022 | $2,190,411,080,134 | 4.19% |
| 2021 | $2,022,378,748,423 | 5.95% |
| 2020 | $1,655,684,730,000 | -5.04% |
| 2019 | $1,743,725,183,673 | 1.91% |
| 2018 | $1,725,329,192,783 | 2.74% |
| 2017 | $1,649,265,644,244 | 3.03% |
| 2016 | $1,527,994,741,907 | 1.04% |
| 2015 | $1,556,508,816,217 | 0.65% |
| 2014 | $1,805,749,878,440 | 2.87% |
| 2013 | $1,846,597,421,835 | 2.33% |
| 2012 | $1,828,366,481,522 | 1.76% |
| 2011 | $1,793,326,630,175 | 3.14% |
| 2010 | $1,617,343,367,486 | 3.09% |
| 2009 | $1,374,625,142,157 | -2.92% |
| 2008 | $1,552,989,690,722 | 1% |
| 2007 | $1,468,820,407,783 | 2.05% |
| 2006 | $1,319,264,809,591 | 2.64% |
| 2005 | $1,173,108,598,779 | 3.21% |
| 2004 | $1,026,690,238,278 | 3.09% |
| 2003 | $895,540,646,635 | 1.81% |
| 2002 | $760,649,334,098 | 3% |
| 2001 | $738,981,792,355 | 1.88% |
| 2000 | $744,773,415,932 | 5.14% |
| 1999 | $678,412,196,271 | 5.14% |
| 1998 | $634,000,000,000 | 3.89% |
| 1997 | $654,986,999,856 | 4.28% |
| 1996 | $630,607,994,133 | 1.69% |
| 1995 | $605,961,090,061 | 2.68% |
| 1994 | $579,944,346,807 | 4.49% |
| 1993 | $579,053,561,739 | 2.66% |
| 1992 | $594,387,358,319 | 0.89% |
| 1991 | $612,527,712,316 | -2.09% |
| 1990 | $596,075,591,361 | 0.2% |
| 1989 | $567,211,993,243 | 2.34% |
| 1988 | $509,380,027,627 | 4.41% |
| 1987 | $433,134,238,311 | 4.07% |
| 1986 | $379,006,836,992 | 2.12% |
| 1985 | $366,186,012,450 | 4.74% |
| 1984 | $356,718,400,124 | 5.9% |
| 1983 | $341,866,277,183 | 2.56% |
| 1982 | $314,647,807,409 | -3.17% |
| 1981 | $307,246,642,756 | 3.42% |
| 1980 | $274,776,566,028 | 2.18% |
| 1979 | $243,891,124,296 | 3.73% |
| 1978 | $219,369,542,386 | 3.74% |
| 1977 | $212,325,176,305 | 3.53% |
| 1976 | $207,271,612,576 | 5.89% |
| 1975 | $174,419,757,177 | 1.55% |
| 1974 | $160,949,188,139 | 3.36% |
| 1973 | $131,764,343,566 | 6.73% |
| 1972 | $113,463,848,874 | 5.52% |
| 1971 | $99,606,454,744 | 4.02% |
| 1970 | $88,192,257,632 | 2.92% |
| 1969 | $79,405,011,125 | 5.07% |
| 1968 | $72,048,833,006 | 5.01% |
| 1967 | $65,856,924,424 | 3.07% |
| 1966 | $61,252,415,405 | 6.76% |
| 1965 | $54,649,410,479 | 6.32% |
| 1964 | $49,503,663,836 | 6.66% |
| 1963 | $45,140,337,827 | 5.3% |
| 1962 | $42,336,211,556 | 7.43% |
| 1961 | $41,038,192,838 | 3.16% |
| 1960 | $40,563,768,947 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/canada | CC BY 
Canada GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2024 | $54,340 | $64,610 |
| 2023 | $54,220 | $64,219 |
| 2022 | $56,257 | $63,944 |
| 2021 | $52,887 | $56,995 |
| 2020 | $43,538 | $48,591 |
| 2019 | $46,353 | $50,499 |
| 2018 | $46,539 | $49,983 |
| 2017 | $45,130 | $48,317 |
| 2016 | $42,314 | $46,471 |
| 2015 | $43,594 | $44,668 |
| 2014 | $50,961 | $45,758 |
| 2013 | $52,638 | $44,301 |
| 2012 | $52,670 | $42,292 |
| 2011 | $52,224 | $41,667 |
| 2010 | $47,561 | $40,103 |
| 2009 | $40,875 | $38,863 |
| 2008 | $46,710 | $40,376 |
| 2007 | $44,660 | $39,573 |
| 2006 | $40,504 | $38,123 |
| 2005 | $36,384 | $36,328 |
| 2004 | $32,146 | $33,929 |
| 2003 | $28,302 | $32,350 |
| 2002 | $24,256 | $30,964 |
| 2001 | $23,822 | $30,241 |
| 2000 | $24,271 | $29,348 |
| 1999 | $22,315 | $27,841 |
| 1998 | $21,025 | $26,324 |
| 1997 | $21,902 | $25,264 |
| 1996 | $21,297 | $24,055 |
| 1995 | $20,680 | $23,474 |
| 1994 | $19,998 | $22,624 |
| 1993 | $20,187 | $21,432 |
| 1992 | $20,950 | $20,619 |
| 1991 | $21,847 | $20,220 |
| 1990 | $21,526 | $20,226 |
| 1989 | $20,795 | - |
| 1988 | $19,013 | - |
| 1987 | $16,378 | - |
| 1986 | $14,521 | - |
| 1985 | $14,170 | - |
| 1984 | $13,930 | - |
| 1983 | $13,477 | - |
| 1982 | $12,527 | - |
| 1981 | $12,379 | - |
| 1980 | $11,208 | - |
| 1979 | $10,078 | - |
| 1978 | $9,154 | - |
| 1977 | $8,949 | - |
| 1976 | $8,839 | - |
| 1975 | $7,537 | - |
| 1974 | $7,057 | - |
| 1973 | $5,858 | - |
| 1972 | $5,107 | - |
| 1971 | $4,535 | - |
| 1970 | $4,136 | - |
| 1969 | $3,776 | - |
| 1968 | $3,473 | - |
| 1967 | $3,226 | - |
| 1966 | $3,055 | - |
| 1965 | $2,777 | - |
| 1964 | $2,562 | - |
| 1963 | $2,380 | - |
| 1962 | $2,274 | - |
| 1961 | $2,246 | - |
| 1960 | $2,265 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/canada | CC BY
Canada has a GDP per capita of $54,340, ranking 20/197, a GDP per capita based on purchasing power parity (PPP) of $64,610, ranking 28/197, and a median annual after tax income of $37,320, ranking 22/197.
Canada GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2024 | 9 | 17 | 24 |
| 2023 | 10 | 20 | 23 |
| 2022 | 9 | 15 | 22 |
| 2021 | 9 | 19 | 22 |
| 2020 | 10 | 22 | 25 |
| 2019 | 11 | 21 | 27 |
| 2018 | 11 | 22 | 24 |
| 2017 | 11 | 20 | 24 |
| 2016 | 11 | 21 | 24 |
| 2015 | 10 | 19 | 26 |
| 2014 | 11 | 19 | 24 |
| 2013 | 11 | 14 | 25 |
| 2012 | 10 | 13 | 25 |
| 2011 | 11 | 15 | 24 |
| 2010 | 10 | 15 | 22 |
| 2009 | 10 | 23 | 25 |
| 2008 | 11 | 23 | 23 |
| 2007 | 9 | 21 | 21 |
| 2006 | 8 | 20 | 19 |
| 2005 | 8 | 21 | 18 |
| 2004 | 9 | 23 | 18 |
| 2003 | 9 | 23 | 18 |
| 2002 | 9 | 23 | 19 |
| 2001 | 9 | 21 | 18 |
| 2000 | 8 | 20 | 19 |
| 1999 | 8 | 22 | 17 |
| 1998 | 9 | 25 | 18 |
| 1997 | 9 | 24 | 19 |
| 1996 | 11 | 23 | 19 |
| 1995 | 10 | 22 | 19 |
| 1994 | 7 | 20 | 17 |
| 1993 | 7 | 18 | 19 |
| 1992 | 8 | 20 | 20 |
| 1991 | 7 | 17 | 18 |
| 1990 | 7 | 17 | 15 |
| 1989 | 7 | 13 | - |
| 1988 | 8 | 13 | - |
| 1987 | 7 | 16 | - |
| 1986 | 7 | 14 | - |
| 1985 | 7 | 9 | - |
| 1984 | 7 | 10 | - |
| 1983 | 7 | 10 | - |
| 1982 | 7 | 15 | - |
| 1981 | 7 | 14 | - |
| 1980 | 7 | 22 | - |
| 1979 | 7 | 20 | - |
| 1978 | 7 | 20 | - |
| 1977 | 7 | 16 | - |
| 1976 | 7 | 12 | - |
| 1975 | 7 | 15 | - |
| 1974 | 7 | 14 | - |
| 1973 | 8 | 10 | - |
| 1972 | 8 | 7 | - |
| 1971 | 8 | 6 | - |
| 1970 | 8 | 6 | - |
| 1969 | 8 | 3 | - |
| 1968 | 7 | 4 | - |
| 1967 | 8 | 6 | - |
| 1966 | 8 | 5 | - |
| 1965 | 9 | 7 | - |
| 1964 | 9 | 7 | - |
| 1963 | 9 | 7 | - |
| 1962 | 8 | 7 | - |
| 1961 | 8 | 4 | - |
| 1960 | 8 | 3 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/canada | CC BY
Compared with 2000, in 2024 Canada is ranked 9th out of 182 by GDP (down from 8th), 17th by GDP per capita (up from 20th), and 24th by GDP per capita PPP (down from 19th).
Economic indicators
Canada
|
Rank | |
|---|---|---|
| Gross domestic product |
$2.24T
2024 |
9/197 |
| GDP growth |
1.55%
2023-2024 |
146/194 |
| GDP per capita |
$54,340
2024 |
20/197 |
| GDP per capita, PPP |
$64,610
2024 |
28/197 |
| Government debt |
$2.5T
2024 |
9/185 |
| Debt-to-GDP ratio |
111.3%
2024 |
15/185 |
| Government debt per person |
$60,482
2024 |
4/185 |
| Average annual personal income after taxes |
$37,320
2026 |
22/197 |
| Listed domestic companies |
4,226
2024 |
2/103 |
| Market capitalization of domestic companies |
$3.37T
2024 |
5/100 |
| Number of millionaires |
2,098,000
2025 |
7/35 |
| Millionaire frequency |
1 in 16
2025 |
8/35 |
| Number of billionaires |
76
2025 |
6/78 |
| Billionaire frequency |
1 in 431,428
2025 |
16/78 |
| Income share by richest 10% |
24.1%
2021 |
136/169 |
| Income share by poorest 10% |
3.3%
2021 |
44/169 |
| Government expenditure, % of GDP |
44.7%
2024 |
34/195 |
| Consumer prices inflation |
2.38%
2023-2024 |
128/195 |
| Central bank interest rate |
2.25%
2025 |
91/106 |
| Unemployment rate |
6.35%
2024 |
76/196 |
| Population |
42181965
|
37/197 |
Government spending, deficit, and debt by year
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 2024 | 44.7% | 111.3% | -2.01% |
| 2023 | 42.1% | 107.7% | 0.07% |
| 2022 | 40.6% | 104.2% | 0.56% |
| 2021 | 45.5% | 112.6% | -3.06% |
| 2020 | 52.4% | 118.1% | -10.9% |
| 2019 | 40.6% | 90.2% | -0.02% |
| 2018 | 40.7% | 90.8% | 0.36% |
| 2017 | 40.5% | 90.9% | -0.11% |
| 2016 | 40.8% | 92.4% | -0.45% |
| 2015 | 40% | 92% | -0.06% |
| 2014 | 38.4% | 85.5% | 0.17% |
| 2013 | 40% | 87.6% | -1.49% |
| 2012 | 40.9% | 87.2% | -2.52% |
| 2011 | 41.6% | 84.3% | -3.31% |
| 2010 | 43.1% | 84% | -4.74% |
| 2009 | 43.4% | 81.8% | -3.88% |
| 2008 | 38.8% | 70.4% | 0.18% |
| 2007 | 38.5% | 67.2% | 1.82% |
| 2006 | 38.7% | 69.9% | 1.83% |
| 2005 | 38.5% | 70.6% | 1.55% |
| 2004 | 39.1% | 71.9% | 0.77% |
| 2003 | 40.3% | 75.9% | -0.13% |
| 2002 | 40.4% | 79.6% | -0.23% |
| 2001 | 41.1% | 81.5% | 0.53% |
| 2000 | 40.6% | 80.4% | 2.64% |
| 1999 | 41.8% | 89% | 1.66% |
| 1998 | 43.4% | 93.3% | 0.14% |
| 1997 | 43.5% | 95.3% | 0.04% |
| 1996 | 45.9% | 100.2% | -3.05% |
| 1995 | 47.7% | 100.1% | -5.49% |
| 1994 | 49% | 97.5% | -6.94% |
| 1993 | 51.5% | 94.7% | -8.93% |
| 1992 | 52.5% | 88.2% | -9.2% |
| 1991 | 51.4% | 81.7% | -8.36% |
| 1990 | 48.1% | 73.7% | -5.91% |
| 1989 | 45.8% | 72.2% | -4.6% |
| 1988 | 45.4% | 71.1% | -4.33% |
| 1987 | 46.1% | 71.4% | -5.42% |
| 1986 | 47.6% | 71% | -7.14% |
| 1985 | 48.3% | 66.9% | -8.59% |
| 1984 | 47.5% | 61.7% | -7.78% |
| 1983 | 47.9% | 58.4% | -8.17% |
| 1982 | 47.3% | 52.7% | -7.03% |
| 1981 | 42.5% | 46.9% | -2.83% |
| 1980 | 41.6% | 45.6% | -4.07% |
| 1979 | 40% | 45.3% | -3.41% |
| 1978 | 41.6% | 48% | -4.77% |
| 1977 | 41.4% | 45.1% | -4.1% |
| 1976 | 40.2% | 43.6% | -2.78% |
| 1975 | 41.1% | 45.2% | -3.54% |
| 1974 | 37.6% | 45.8% | 1.1% |
| 1973 | 36% | 48% | 0.6% |
| 1972 | 37.5% | 53.5% | -0.97% |
| 1971 | 37.3% | 55.3% | -1.02% |
| 1970 | 36% | 54.3% | -0.36% |
| 1969 | 33.9% | 53% | 1.2% |
| 1968 | 33.8% | 55.9% | -0.45% |
| 1967 | 32.9% | 56.9% | -0.82% |
| 1966 | 30.8% | 56.6% | -0.07% |
| 1965 | 29.8% | 60.1% | -0.25% |
| 1964 | 29.7% | 63.7% | -0.68% |
| 1963 | 30.3% | 67% | -2.31% |
| 1962 | 30.6% | 67.2% | -2.6% |
| 1961 | 30.6% | 68.2% | -2.75% |
| 1960 | 14.9% | 66.1% | -0.85% |
| 1959 | 14.9% | 65.4% | -1.08% |
| 1958 | 14.9% | 64.3% | -1.69% |
| 1957 | 14.6% | 58.7% | -0.11% |
| 1956 | 14.6% | 59.5% | 0.77% |
| 1955 | 15% | 67.7% | -0.11% |
| 1954 | 15.9% | 69.6% | -0.57% |
| 1953 | 16.2% | 68.5% | 0.3% |
| 1952 | 17% | 71.4% | 0.09% |
| 1951 | 16.6% | 78% | 1.1% |
| 1950 | 15% | 89.4% | 1.09% |
| 1949 | 14.6% | 103.3% | 0.78% |
| 1948 | 14% | 113% | 3.84% |
| 1947 | 16.3% | 131.6% | 5.02% |
| 1946 | 22.2% | 153.8% | 3.14% |
| 1945 | 43.3% | 155.5% | -17.9% |
| 1944 | 44.3% | 131.7% | -21.6% |
| 1943 | 48.2% | 113.6% | -23.1% |
| 1942 | 42.7% | 93.7% | -20.8% |
| 1941 | 22.8% | 91.6% | -4.79% |
| 1940 | 18.6% | 91% | -5.62% |
| 1939 | 12.1% | 91% | -2.11% |
| 1938 | 10.5% | 90.8% | -0.97% |
| 1937 | 10.2% | 87.9% | -0.34% |
| 1936 | 11.5% | 98.4% | -1.68% |
| 1935 | 12.4% | 105.2% | -3.72% |
| 1934 | 12% | 108.3% | -2.93% |
| 1933 | 13.1% | 117.9% | -3.83% |
| 1932 | 14% | 102.3% | -5.79% |
| 1931 | 9.56% | 79.6% | -2.43% |
| 1930 | 7.72% | 60.8% | -1.47% |
| 1929 | 6.6% | 53.2% | 0.78% |
| 1928 | 6.51% | 53.2% | 1.12% |
| 1927 | 6.83% | 57.8% | 0.92% |
| 1926 | 6.98% | 62.9% | 0.81% |
| 1925 | 7.12% | 64.9% | 0.55% |
| 1924 | 7.82% | 72.5% | 0.007% |
| 1923 | 8.16% | 70.7% | 0.79% |
| 1922 | 10.4% | 75.6% | -0.75% |
| 1921 | 11.7% | 74.1% | -2% |
| 1920 | 10.5% | 58.4% | -1.82% |
| 1919 | 16.9% | 68.2% | -8.94% |
| 1918 | 16.3% | 61.9% | -8.98% |
| 1917 | 14.4% | 46.9% | -7.83% |
| 1916 | 15.3% | 43.5% | -8.14% |
| 1915 | 12.6% | 36.2% | -6.17% |
| 1914 | 10.1% | 30.6% | -4.63% |
| 1913 | 6.97% | 20.7% | -0.82% |
| 1912 | 5.74% | 18.4% | 1.03% |
| 1911 | 6.09% | 20.7% | 0.004% |
| 1910 | 6.01% | 19.2% | -0.18% |
| 1909 | 6.2% | 21% | -0.67% |
| 1908 | 7.95% | 22.9% | -2.78% |
| 1907 | 6.38% | 18.7% | -0.83% |
| 1906 | 4.23% | 19.4% | 0.22% |
| 1905 | 5.95% | 22.7% | -0.07% |
| 1904 | 6.34% | 24.5% | -0.44% |
| 1903 | 5.93% | 24.7% | 0.07% |
| 1902 | 5.28% | 25.2% | 0.91% |
| 1901 | 6.2% | 30% | -0.34% |
| 1900 | 6.12% | 32.2% | -0.33% |
| 1899 | 6.08% | 34.9% | 0.1% |
| 1898 | 6.37% | 37.6% | -0.3% |
| 1897 | 6% | 40% | -0.35% |
| 1896 | 6.38% | 44.2% | -0.48% |
| 1895 | 6.63% | 44.4% | -0.85% |
| 1894 | 6.28% | 42.4% | -1.06% |
| 1893 | 5.99% | 39.3% | -0.66% |
| 1892 | 5.53% | 37.6% | -0.07% |
| 1891 | 2.02% | 37.2% | 3.23% |
| 1890 | 5.68% | 37.9% | -0.04% |
| 1889 | 6.08% | 39.3% | 0% |
| 1888 | 6.63% | 41.6% | -0.48% |
| 1887 | 7.05% | 42.5% | -1.18% |
| 1886 | 7.12% | 44.8% | -0.73% |
| 1885 | 10.9% | 45.4% | -4.82% |
| 1884 | 8.13% | 42% | -2.43% |
| 1883 | 9.24% | 37% | -3.88% |
| 1882 | 6.72% | 30.2% | -0.78% |
| 1881 | 5.87% | 33.4% | 0.32% |
| 1880 | 6.76% | 38.6% | -0.62% |
| 1879 | 7.37% | 40.9% | -2.11% |
| 1878 | 7.23% | 41% | -0.63% |
| 1877 | 6.79% | 38% | -1.63% |
| 1876 | 7.49% | 39.4% | -2.06% |
| 1875 | 6.87% | 33.8% | -1.88% |
| 1874 | 6.63% | 29.5% | -1.57% |
| 1873 | 6.77% | 27.5% | -1.74% |
| 1872 | 8.63% | 27.7% | -3.93% |
| 1871 | 6.11% | 28.1% | -1.09% |
| 1870 | 4.94% | 29% | 0.13% |
Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1870–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).
GeoRank.org/economy/canada | CC BY
This chart shows Canada's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 50 years, Canada recorded a fiscal deficit in 36 of them, with an average annual deficit equal to 2.94% of GDP. In 2024, government spending reached $1T (44.7% of GDP), with a deficit of 2.01%.
The national debt reached $2.5T, ranking 9th out of 185 countries by total size, with a debt-to-GDP ratio of 111.3%, ranking 15th.
Inflation rate by year
| Year | Inflation |
|---|---|
| 2024 | 2.38% |
| 2023 | 3.88% |
| 2022 | 6.8% |
| 2021 | 3.4% |
| 2020 | 0.72% |
| 2019 | 1.95% |
| 2018 | 2.27% |
| 2017 | 1.6% |
| 2016 | 1.43% |
| 2015 | 1.13% |
| 2014 | 1.91% |
| 2013 | 0.94% |
| 2012 | 1.52% |
| 2011 | 2.91% |
| 2010 | 1.78% |
| 2009 | 0.3% |
| 2008 | 2.37% |
| 2007 | 2.14% |
| 2006 | 2% |
| 2005 | 2.21% |
| 2004 | 1.86% |
| 2003 | 2.76% |
| 2002 | 2.26% |
| 2001 | 2.53% |
| 2000 | 2.72% |
| 1999 | 1.73% |
| 1998 | 1% |
| 1997 | 1.62% |
| 1996 | 1.57% |
| 1995 | 2.15% |
| 1994 | 0.17% |
| 1993 | 1.87% |
| 1992 | 1.49% |
| 1991 | 5.63% |
| 1990 | 4.78% |
| 1989 | 4.98% |
| 1988 | 4.03% |
| 1987 | 4.36% |
| 1986 | 4.19% |
| 1985 | 3.96% |
| 1984 | 4.3% |
| 1983 | 5.86% |
| 1982 | 10.8% |
| 1981 | 12.5% |
| 1980 | 10.1% |
| 1979 | 9.14% |
| 1978 | 8.97% |
| 1977 | 7.98% |
| 1976 | 7.54% |
| 1975 | 10.7% |
| 1974 | 11% |
| 1973 | 7.49% |
| 1972 | 4.99% |
| 1971 | 2.7% |
| 1970 | 3.35% |
| 1969 | 4.56% |
| 1968 | 4.06% |
| 1967 | 3.58% |
| 1966 | 3.82% |
| 1965 | 2.33% |
| 1964 | 1.91% |
| 1963 | 1.63% |
| 1962 | 1.06% |
| 1961 | 1.02% |
| 1960 | 1.36% |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/canada | CC BY
Over the past 20 years, Canada has had an average annual inflation rate of 2.18%. In 2024, inflation was 2.38%. The bar chart above shows consumer price inflation by year.
Balance of trade
|
Canada
|
Rank | |
|---|---|---|
|
Current account balance
|
-$10.3B
2024 |
177/190 |
| Current account balance, % of GDP |
-0.46%
2024 |
80/190 |
| Goods imports |
$574B
2024 |
11/189 |
| Goods exports |
$569B
2024 |
11/189 |
| Service imports |
$160B
2024 |
15/189 |
| Service exports |
$159B
2024 |
14/189 |
| Imports of goods and services, % of GDP |
32.7%
2024 |
119/181 |
| Exports of goods and services, % of GDP |
32.4%
2024 |
103/193 |
Canada top 10 trading partners
Canada's biggest trading partner accounting for 63.7% of all exports and imports is the United States, with a trade balance between the two of +$157B: Canada exports $497B worth of goods and services to the United States and imports $340B.
Below is the list of the top 10 trade partners of Canada.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
United States
|
$837B | 63.7% | $497B | $340B | Raw materials & minerals | Machinery & equipment |
| 2 |
China
|
$92.9B | 7.06% | $26.2B | $66.7B | Raw materials & minerals | Machinery & equipment |
| 3 |
Mexico
|
$42.9B | 3.26% | $7.44B | $35.5B | Machinery & equipment | Machinery & equipment |
| 4 |
United Kingdom
|
$39.4B | 3% | $26.1B | $13.3B | Precious metals & jewellery | Machinery & equipment |
| 5 |
Japan
|
$29.3B | 2.23% | $12.2B | $17.1B | Raw materials & minerals | Machinery & equipment |
| 6 |
Germany
|
$27.2B | 2.07% | $7.37B | $19.9B | Machinery & equipment | Machinery & equipment |
| 7 |
South Korea
|
$19B | 1.45% | $6.44B | $12.6B | Raw materials & minerals | Machinery & equipment |
| 8 |
India
|
$15.5B | 1.18% | $7.78B | $7.74B | Transport & tourism services | Machinery & equipment |
| 9 |
France
|
$15.5B | 1.18% | $6.21B | $9.31B | Machinery & equipment | Machinery & equipment |
| 10 |
Switzerland
|
$13.1B | 1% | $6.35B | $6.74B | Precious metals & jewellery | Chemicals & pharma |
Top 10 exports
|
Canada
|
Rank | |
|---|---|---|
| Raw materials & minerals | $177B | 6/193 |
| Machinery & equipment | $139B | 17/193 |
| Transport & tourism services | $58.5B | 15/188 |
| Business & finance services | $52.7B | 11/188 |
| Chemicals & pharma | $40.6B | 17/193 |
| Metals | $40.5B | 9/192 |
| Precious metals & jewellery | $34.5B | 6/190 |
| Processed food, beverages & tobacco | $30.2B | 12/192 |
| Wood & paper products | $28.1B | 4/192 |
| Raw agricultural goods | $28B | 5/193 |
Top 10 imports
|
Canada
|
Rank | |
|---|---|---|
| Machinery & equipment | $253B | 8/193 |
| Transport & tourism services | $67.5B | 10/188 |
| Chemicals & pharma | $65.4B | 13/193 |
| Raw materials & minerals | $56.3B | 18/193 |
| Business & finance services | $52B | 12/188 |
| Textiles & consumer goods | $40.9B | 11/193 |
| Metals | $34.2B | 10/193 |
| Processed food, beverages & tobacco | $30.1B | 7/193 |
| IT & IP services | $26.7B | 12/182 |
| Precious metals & jewellery | $20.3B | 13/193 |
Economic freedom indices
|
Canada
|
Rank | |
|---|---|---|
| Economic freedom | 75.6 | 17/197 |
| Property rights | 85.9 | 29/182 |
| Government integrity | 85.5 | 12/182 |
| Judicial effectiveness | 96 | 8/182 |
| Tax burden | 74.7 | 121/182 |
| Government spending | 45.9 | 144/180 |
| Fiscal health | 79.7 | 81/181 |
| Business freedom | 84.2 | 15/182 |
| Labor freedom | 68.3 | 15/182 |
| Monetary freedom | 73.8 | 90/180 |
| Trade freedom | 83.2 | 12/181 |
| Investment freedom | 60 | 61/181 |
| Financial freedom | 70 | 22/181 |
Economic freedom by year
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2026 | 75.6 | 96 | 74.7 | 45.9 | 79.7 |
| 2025 | 75.5 | 95.6 | 74.8 | 44.6 | 78 |
| 2024 | 72.4 | 95 | 75.8 | 34.7 | 33.9 |
| 2023 | 73.7 | 83.1 | 75 | 35 | 32.2 |
| 2022 | 76.6 | 96.4 | 75.7 | 39.6 | 62.8 |
| 2021 | 77.9 | 73.3 | 76 | 49.8 | 84.2 |
| 2020 | 78.2 | 72.7 | 76.5 | 50.9 | 83.3 |
| 2019 | 77.7 | 69.4 | 76.8 | 51.3 | 83.1 |
| 2018 | 77.7 | 77.1 | 76.7 | 52.3 | 81.2 |
| 2017 | 78.5 | 80.8 | 77.4 | 52.3 | 80.3 |
| 2016 | 78 | - | 80 | 50.4 | - |
| 2015 | 79.1 | - | 79.9 | 48.3 | - |
| 2014 | 80.2 | - | 79.7 | 47.3 | - |
| 2013 | 79.4 | - | 79.8 | 44.8 | - |
| 2012 | 79.9 | - | 79.2 | 41.7 | - |
| 2011 | 80.8 | - | 78 | 52.7 | - |
| 2010 | 80.4 | - | 76.7 | 54.1 | - |
| 2009 | 80.5 | - | 76.6 | 53.7 | - |
| 2008 | 80.2 | - | 75.5 | 53.7 | - |
| 2007 | 78 | - | 75.9 | 52.2 | - |
| 2006 | 77.4 | - | 75.3 | 53.4 | - |
| 2005 | 75.8 | - | 75.1 | 50.8 | - |
| 2004 | 75.3 | - | 73.6 | 50.5 | - |
| 2003 | 74.8 | - | 72.7 | 47.8 | - |
| 2002 | 74.6 | - | 71.1 | 49.6 | - |
| 2001 | 71.2 | - | 41.5 | 47.1 | - |
| 2000 | 70.5 | - | 40 | 41.9 | - |
| 1999 | 69.3 | - | 39.2 | 34.9 | - |
| 1998 | 68.5 | - | 38.1 | 29.4 | - |
| 1997 | 67.9 | - | 38.1 | 25.9 | - |
| 1996 | 70.3 | - | 64.6 | 18.3 | - |
| 1995 | 69.4 | - | 64.2 | 14.8 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).
GeoRank.org/economy/canada | CC BY
Canada is ranked 14/174 for economic freedom with a score of 75.6, compared to 9/162 and a score of 77.4 in 2006.
Other economic metrics
|
Canada
|
Rank | |
|---|---|---|
| Services, % of GDP |
66.4%
2021 |
38/191 |
| Industry, % of GDP |
25.3%
2021 |
84/194 |
| Agriculture, forestry, and fishing, % of GDP |
1.6%
2021 |
156/193 |
|
GNI, Atlas method
|
$2.2T
2024 |
10/194 |
| GNI per capita, PPP |
$63,630
2024 |
24/191 |
| Total reserves including gold |
$120B
2024 |
23/177 |
|
Net foreign direct investment
|
$27.8B
2024 |
11/189 |
|
Net inflows of foreign direct investment
|
$63.1B
2024 |
5/193 |
|
Net outflows of foreign direct investment
|
$89.4B
2024 |
5/193 |
| Poverty at national poverty lines |
9.4%
2020 |
152/176 |
|
Gross capital formation, % of GDP
|
23.2%
2024 |
90/178 |
Compare Canada vs other countries
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/canada | CC BY
Help us show the world through your eyes
Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.
Data sources:
- World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
- International Monetary Fund (IMF) | Public Finances in Modern History (1870–1989, retrieved 2026-02-20)
- International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
- The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- TradeMap (2022–2024, retrieved 2026-02-08)
- Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.