Canada GDP Growth Rate

Last Release

Mar 31, 2025

Actual

0.5

Units In

0.6

Frequency

Quarterly

Next Release

Aug 29, 2025

Time to Release

2 Months 28 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
9.1 Sep 2020	-11.3 Jun 2020	0.75 %	1961-2025	Statistics Canada

Canada's economy is diversified and highly developed. Foreign trade is responsible for about 45 percent of the nation's GDP and the United States is by far the largest trade partner. On the expenditure side, household consumption is the main component of GDP and accounts for 58 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (19 percent). Exports of goods and services account for 32 percent of GDP while imports account for 33 percent, subtracting 1 percent of total GDP. Non-profit institutions serving households' final consumption expenditure and investment in inventories account for the remaining 2 percent.

Latest Updates

The Canadian GDP expanded by 0.5% from the previous quarter in the first three months of 2025, maintaining the revised 0.5% growth rate from the earlier period and ahead of expectations. While the figures were better than those flagged by the BoC, the concentration of growth in net foreign demand and inventory accumulation was supported by firms front-running tariffs from the US instead of core economic strength. The exports of goods and services expanded by 1.6%, while imports rose by a softer 1.1%. In the meantime, business non-farm inventories were accumulated at a sharp pace after withdrawals in the end of last year, adding $8.7 billion to the GDP. Still, economic uncertainty drove household consumption to slow (0.3% vs 1.2% in Q4 2024), while government expenditure contracted for the first time in one year (-0.8% vs 2.3%). On an annualized basis, the Canadian GDP expanded by 2.2%, firmly above expectations of 1.7%.