Nominal Gross Domestic Product for Canada
NGDPSAXDCCAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
793,566.00
Year-over-Year Change
14.01%
Date Range
1/1/1961 - 1/1/2025
Summary
Nominal Gross Domestic Product (GDP) for Canada measures the total market value of all final goods and services produced within the Canadian economy, unadjusted for inflation. It is a key indicator of economic growth and activity.
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
Nominal GDP for Canada represents the broadest measure of overall economic output and serves as a barometer for the health and size of the Canadian economy. It is widely used by economists, policymakers, and analysts to assess macroeconomic trends and inform economic decision-making.
Methodology
The data is collected and calculated by Statistics Canada based on comprehensive surveys and estimates of economic activity.
Historical Context
Nominal GDP is a crucial input for fiscal and monetary policy decisions in Canada and is closely monitored by the Bank of Canada and international institutions.
Key Facts
- Canada's nominal GDP reached $2.02 trillion in 2021.
- Nominal GDP grew by 12.2% in 2021 compared to the previous year.
- Services account for over 60% of Canada's nominal GDP.
FAQs
Q: What does this economic trend measure?
A: Nominal Gross Domestic Product for Canada measures the total market value of all final goods and services produced within the Canadian economy, without adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: Nominal GDP is a crucial indicator of the overall size and growth of the Canadian economy, providing valuable insights for policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Statistics Canada based on comprehensive surveys and estimates of economic activity.
Q: How is this trend used in economic policy?
A: Nominal GDP is a key input for fiscal and monetary policy decisions in Canada and is closely monitored by the Bank of Canada and international institutions.
Q: Are there update delays or limitations?
A: The data is published quarterly by Statistics Canada with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Nominal Gross Domestic Product for Canada (NGDPSAXDCCAQ), retrieved from FRED.