National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for Canada
Annual
CANGDPNADSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,813,289,000,000.00
Year-over-Year Change
68.86%
Date Range
1/1/1961 - 1/1/2022
Summary
The Annual series measures Canada's Gross Domestic Product (GDP) on an annual basis. It is a key economic indicator used by policymakers and analysts to assess the overall health and growth 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
The Annual GDP series provides a comprehensive measure of the total value of goods and services produced in Canada over the course of a year. It is a widely referenced statistic that allows for analysis of long-term economic trends and performance.
Methodology
The data is collected and calculated by Statistics Canada based on various sources, including business surveys and government records.
Historical Context
Annual GDP is closely monitored by the Bank of Canada and other economic institutions to inform monetary and fiscal policy decisions.
Key Facts
- Canada's GDP reached $1.99 trillion in 2021.
- The Canadian economy grew by 4.5% in 2021 after contracting in 2020.
- Services account for over 60% of Canada's GDP.
FAQs
Q: What does this economic trend measure?
A: The Annual series measures the total value of goods and services produced in Canada over the course of a year, providing a comprehensive view of the size and growth of the Canadian economy.
Q: Why is this trend relevant for users or analysts?
A: Annual GDP is a key indicator of a country's economic performance and is closely monitored by policymakers, investors, and economists to assess the overall health and growth of the Canadian economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Statistics Canada based on various sources, including business surveys and government records.
Q: How is this trend used in economic policy?
A: Annual GDP is closely monitored by the Bank of Canada and other economic institutions to inform monetary and fiscal policy decisions, as it provides a comprehensive measure of the country's overall economic activity and growth.
Q: Are there update delays or limitations?
A: The Annual GDP data is typically released by Statistics Canada with a lag of several months, as it requires the collection and aggregation of data from various sources.
Related Trends
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Bank Regulatory Capital to Risk-Weighted Assets for Canada
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Gross Domestic Product Per Capita for Canada
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Citation
U.S. Federal Reserve, Annual (CANGDPNADSMEI), retrieved from FRED.