Constant GDP per capita for Canada
NYGDPPCAPKDCAN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44,401.72
Year-over-Year Change
4.92%
Date Range
1/1/1960 - 1/1/2024
Summary
The Constant GDP per capita for Canada is a key metric that measures the total economic output of Canada divided by its population, adjusted for inflation. It provides insights into the standard of living and economic well-being of the Canadian population.
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
Constant GDP per capita is an inflation-adjusted measure of the total economic output of a country divided by its population. It is a valuable indicator of a country's economic development and standard of living, as it captures changes in productivity and living standards over time.
Methodology
The data is calculated by the World Bank using national accounts data and population figures.
Historical Context
Policymakers and economists use this trend to assess the overall economic health and development of Canada.
Key Facts
- Canada's constant GDP per capita was $44,916 in 2021.
- The trend has shown steady growth over the past decade, with an average annual increase of 1.3%.
- Constant GDP per capita is a more accurate measure of living standards than nominal GDP per capita, as it accounts for changes in the cost of living.
FAQs
Q: What does this economic trend measure?
A: The Constant GDP per capita for Canada measures the total economic output of the country divided by its population, with the GDP figure adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the overall standard of living and economic well-being of the Canadian population, allowing for comparisons over time and between countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts data and population figures.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the overall economic health and development of Canada, informing decisions on economic policies and programs.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately one year, so the most recent figures may not reflect the current economic situation.
Related Trends
Consumer Price Index: Services Less Housing for Canada
CANCPISXHMINMEI
Balance of Payments: Services: Expenditure for Canada
CANB6DBSE01CXCUSAQ
Real External Balance of Goods and Services for Canada
NNXGSRXDCCAA
Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Canada
CANCP030000GPM
Value Traded of Top 10 Traded Companies to Total Value Traded for Canada
DDAM01CAA156NWDB
Percentage of Foreign Banks Among Total Banks for Canada
DDOI13CAA156NWDB
Citation
U.S. Federal Reserve, Constant GDP per capita for Canada (NYGDPPCAPKDCAN), retrieved from FRED.