Gross Domestic Product for Canada
MKTGDPCAA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,241,253,230,970.34
Year-over-Year Change
22.58%
Date Range
1/1/1960 - 1/1/2024
Summary
This series measures the total monetary value of all goods and services produced within Canada's borders. It is a key indicator of the overall size and health of the Canadian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Gross Domestic Product (GDP) is the most comprehensive metric of a country's economic activity. It includes the value of all final goods and services produced domestically, and is used by economists and policymakers to assess economic growth, productivity, and living standards.
Methodology
GDP data is collected and calculated by Statistics Canada through surveys of businesses, households, and government agencies.
Historical Context
GDP is closely monitored by the Bank of Canada and federal government to inform monetary and fiscal policy decisions.
Key Facts
- Canada's GDP was $1.9 trillion in 2022.
- GDP per capita in Canada was $51,000 in 2022.
- The Canadian economy grew by 3.6% in 2022.
FAQs
Q: What does this economic trend measure?
A: This series measures the total monetary value of all goods and services produced within Canada's borders over a given time period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a key indicator of the overall size and health of the Canadian economy, and is closely monitored by policymakers, businesses, and analysts.
Q: How is this data collected or calculated?
A: The GDP data is collected and calculated by Statistics Canada through surveys of businesses, households, and government agencies.
Q: How is this trend used in economic policy?
A: The Canadian GDP data is closely monitored by the Bank of Canada and federal government to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The GDP data is typically released on a quarterly basis, with some delay from the end of the reference period.
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Balance of Payments: Financial Account: Net (Assets Minus Liabilities) for Canada
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Citation
U.S. Federal Reserve, Gross Domestic Product for Canada (MKTGDPCAA646NWDB), retrieved from FRED.