Canada's GDP changed from approximately $276B 64M in 1980 to $2T 242B in 2024, showing an overall 712.2% sharply increased during the period.
The lowest GDP was recorded in 1980 at $276B 64M, and the highest in 2024 at $2T 242B.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 4.9%.
For comparison, the average annual growth rate of United States was 5.4%, and that of Mexico was 4.9%.
Canada GDP from 1980 to 2024
The total market value of goods and services produced annually in Canada.
Overview of Canada's GDP (1980–2024)
The Gross Domestic Product (GDP) of Canada recorded a 712.2% sharply increased from 1980 to 2024.
The average GDP during this period was $1T 75B, and the median was $760B 149M.
GDP fluctuated within a range of $1T 966B, with a standard deviation of $619B 277M.
The average annual change was $45B 274M.
Highest and Lowest GDP Records
- Lowest GDP: 1980, $276B 64M
- Highest GDP: 2024, $2T 242B
- Most Recent GDP: 2024, $2T 242B
Notable Annual GDP Changes
- 2021: Significant increase in GDP
- 2015: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Canada's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $1T 743B → $1T 655B
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $1T 468B → $1T 376B
- Outcome: declined
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $744B 631M → $738B 968M
- Outcome: remained stable
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $655B 10M → $634B 4M
- Outcome: declined
Key Economic Indicators of Canada (1980–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | 2.163 % | $ 276B 64M | $ 288B 587M | $ 11,281.42 | $ 11,793.17 | 20.20 % | 24M 471K people | -2.205 % | -2.67 % |
1981 | 3.503 % | $ 307B 246M | $ 326B 957M | $ 12,396.67 | $ 13,191.97 | 21.11 % | 24M 785K people | -4.18 % | -2.208 % |
1982 | -3.166 % | $ 314B 639M | $ 336B 169M | $ 12,543.94 | $ 13,402.30 | 20.41 % | 25M 83K people | 0.485 % | -5.244 % |
1983 | 2.562 % | $ 341B 863M | $ 358B 284M | $ 13,493.20 | $ 14,141.33 | 19.38 % | 25M 336K people | -0.838 % | -6.243 % |
1984 | 5.899 % | $ 356B 728M | $ 393B 112M | $ 13,947.36 | $ 15,369.90 | 20.50 % | 25M 577K people | -0.457 % | -5.614 % |
1985 | 4.738 % | $ 366B 184M | $ 424B 756M | $ 14,185.92 | $ 16,454.99 | 19.87 % | 25M 813K people | -1.659 % | -5.722 % |
1986 | 2.121 % | $ 379B 15M | $ 442B 500M | $ 14,539.75 | $ 16,975.19 | 18.62 % | 26M 67K people | -3.06 % | -3.469 % |
1987 | 4.072 % | $ 433B 140M | $ 471B 931M | $ 16,408.14 | $ 17,877.62 | 18.95 % | 26M 398K people | -3.223 % | -1.661 % |
1988 | 4.411 % | $ 509B 380M | $ 510B 124M | $ 19,041.18 | $ 19,069.02 | 20.44 % | 26M 751K people | -3.06 % | -0.418 % |
1989 | 2.337 % | $ 567B 225M | $ 542B 519M | $ 20,842.46 | $ 19,934.64 | 19.65 % | 27M 215K people | -3.956 % | -0.218 % |
1990 | 0.203 % | $ 596B 89M | $ 563B 965M | $ 21,572.14 | $ 20,409.57 | 17.87 % | 27M 632K people | -3.432 % | -0.858 % |
1991 | -2.091 % | $ 612B 514M | $ 570B 849M | $ 21,885.57 | $ 20,396.84 | 15.61 % | 27M 987K people | -3.729 % | -3.166 % |
1992 | 0.89 % | $ 594B 376M | $ 589B 57M | $ 20,984.78 | $ 20,796.99 | 14.77 % | 28M 324K people | -3.607 % | -3.973 % |
1993 | 2.658 % | $ 579B 59M | $ 619B 44M | $ 20,210.45 | $ 21,606.03 | 14.64 % | 28M 651K people | -3.837 % | -3.726 % |
1994 | 4.494 % | $ 579B 913M | $ 660B 678M | $ 20,024.58 | $ 22,813.42 | 17.14 % | 28M 960K people | -2.376 % | -1.867 % |
1995 | 2.682 % | $ 605B 941M | $ 692B 622M | $ 20,706.72 | $ 23,668.85 | 18.55 % | 29M 263K people | -0.823 % | 0.085 % |
1996 | 1.689 % | $ 630B 598M | $ 717B 215M | $ 21,325.69 | $ 24,254.93 | 19.34 % | 29M 570K people | 0.415 % | 2.141 % |
1997 | 4.28 % | $ 655B 10M | $ 760B 810M | $ 21,930.49 | $ 25,472.78 | 19.88 % | 29M 868K people | -1.337 % | 4.72 % |
1998 | 3.893 % | $ 634B 4M | $ 799B 312M | $ 21,046.56 | $ 26,534.17 | 19.70 % | 30M 124K people | -1.338 % | 4.798 % |
1999 | 5.141 % | $ 678B 417M | $ 852B 297M | $ 22,340.55 | $ 28,066.49 | 20.86 % | 30M 367K people | 0.179 % | 5.761 % |