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%.
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.
Canada GDP from 1980 to 2024
The total market value of goods and services produced annually in Canada.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 276B 64M | $ 11,281.42 | $ 11,793.17 | $ 288B 587M | 2.163 % | -2.205 % | 20.20 % | -2.67 % | 24M 471K people |
1981 | $ 307B 246M | $ 12,396.67 | $ 13,191.97 | $ 326B 957M | 3.503 % | -4.18 % | 21.11 % | -2.208 % | 24M 785K people |
1982 | $ 314B 639M | $ 12,543.94 | $ 13,402.30 | $ 336B 169M | -3.166 % | 0.485 % | 20.41 % | -5.244 % | 25M 83K people |
1983 | $ 341B 863M | $ 13,493.20 | $ 14,141.33 | $ 358B 284M | 2.562 % | -0.838 % | 19.38 % | -6.243 % | 25M 336K people |
1984 | $ 356B 728M | $ 13,947.36 | $ 15,369.90 | $ 393B 112M | 5.899 % | -0.457 % | 20.50 % | -5.614 % | 25M 577K people |
1985 | $ 366B 184M | $ 14,185.92 | $ 16,454.99 | $ 424B 756M | 4.738 % | -1.659 % | 19.87 % | -5.722 % | 25M 813K people |
1986 | $ 379B 15M | $ 14,539.75 | $ 16,975.19 | $ 442B 500M | 2.121 % | -3.06 % | 18.62 % | -3.469 % | 26M 67K people |
1987 | $ 433B 140M | $ 16,408.14 | $ 17,877.62 | $ 471B 931M | 4.072 % | -3.223 % | 18.95 % | -1.661 % | 26M 398K people |
1988 | $ 509B 380M | $ 19,041.18 | $ 19,069.02 | $ 510B 124M | 4.411 % | -3.06 % | 20.44 % | -0.418 % | 26M 751K people |
1989 | $ 567B 225M | $ 20,842.46 | $ 19,934.64 | $ 542B 519M | 2.337 % | -3.956 % | 19.65 % | -0.218 % | 27M 215K people |
1990 | $ 596B 89M | $ 21,572.14 | $ 20,409.57 | $ 563B 965M | 0.203 % | -3.432 % | 17.87 % | -0.858 % | 27M 632K people |
1991 | $ 612B 514M | $ 21,885.57 | $ 20,396.84 | $ 570B 849M | -2.091 % | -3.729 % | 15.61 % | -3.166 % | 27M 987K people |
1992 | $ 594B 376M | $ 20,984.78 | $ 20,796.99 | $ 589B 57M | 0.89 % | -3.607 % | 14.77 % | -3.973 % | 28M 324K people |
1993 | $ 579B 59M | $ 20,210.45 | $ 21,606.03 | $ 619B 44M | 2.658 % | -3.837 % | 14.64 % | -3.726 % | 28M 651K people |
1994 | $ 579B 913M | $ 20,024.58 | $ 22,813.42 | $ 660B 678M | 4.494 % | -2.376 % | 17.14 % | -1.867 % | 28M 960K people |
1995 | $ 605B 941M | $ 20,706.72 | $ 23,668.85 | $ 692B 622M | 2.682 % | -0.823 % | 18.55 % | 0.085 % | 29M 263K people |
1996 | $ 630B 598M | $ 21,325.69 | $ 24,254.93 | $ 717B 215M | 1.689 % | 0.415 % | 19.34 % | 2.141 % | 29M 570K people |
1997 | $ 655B 10M | $ 21,930.49 | $ 25,472.78 | $ 760B 810M | 4.28 % | -1.337 % | 19.88 % | 4.72 % | 29M 868K people |
1998 | $ 634B 4M | $ 21,046.56 | $ 26,534.17 | $ 799B 312M | 3.893 % | -1.338 % | 19.70 % | 4.798 % | 30M 124K people |
1999 | $ 678B 417M | $ 22,340.55 | $ 28,066.49 | $ 852B 297M | 5.141 % | 0.179 % | 20.86 % | 5.761 % | 30M 367K people |
