Canada GDP Growth Rate

The Gross Domestic Product (GDP) in Canada expanded 0.70 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Canada is reported by the Statistics Canada. GDP Growth Rate in Canada averaged 0.82 Percent from 1961 until 2013, reaching an all time high of 3.33 Percent in the fourth quarter of 1963 and a record low of -1.80 Percent in the first quarter of 2009. Canada's economy is diversified and highly developed. The foundation of Canadian economy is foreign trade and the United States is by far the nation's largest trade partner. Foreign trade is responsible for about 45 percent of the nation's gross domestic product (GDP). Canada is one of the few developed nations that is a net exporter of energy. This page provides - Canada GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-16

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.70 0.70 3.33 -1.80 0.94 | 2014/03 1961 - 2013 Percent Quarterly

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Canada GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-05-31 01:30 PM Canada
GDP Growth Rate QoQ
Q1 2013 0.6% 0.2% 1.6% 0.20%
2013-08-30 01:30 PM Canada
GDP Growth Rate QoQ
Q2 2013 0.4% 0.5% (R) 0.54%
2013-11-29 01:30 PM Canada
GDP Growth Rate QoQ
Q3 2013 0.7% 0.4% 1.0% 0.3%
2014-02-28 01:30 PM Canada
GDP Growth Rate QoQ
Q4 2013 0.7% 0.7% 0.17%
2014-05-30 01:30 PM Canada
GDP Growth Rate QoQ
Q1 2014 0.7% 0.94%
2014-08-29 01:30 PM Canada
GDP Growth Rate QoQ
Q2 2014 0.88%
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GDP Last Previous Highest Lowest Forecast Unit
GDP Constant Prices 1712001.00 2013-11-15 1699725.00 1712001.00 758823.00 1719881.97 2014-03-31 CAD Million [+]
Gdp Growth Annualized 2.89 2013-11-15 2.66 8.54 -8.99 2.43 2014-03-31 Percent [+]
Gross Fixed Capital Formation 396446.00 2013-11-15 399916.00 401645.00 134073.00 396739.31 2014-03-31 CAD Million [+]
Gross National Product 1870288.00 2013-11-15 1859116.00 1870288.00 343088.00 1886199.17 2014-03-31 CAD Million [+]
GDP per capita 35992.10 2012-12-31 35794.30 36182.90 12931.40 36149.66 2013-12-31 USD [+]
GDP per capita PPP 35936.26 2012-12-31 35738.70 36126.74 22635.37 36208.91 2013-12-31 USD [+]
GDP Growth Rate 0.70 2013-12-31 0.70 3.33 -1.80 0.94 2014-03-31 Percent [+]
GDP Annual Growth Rate 2.66 2013-12-31 2.16 8.80 -3.70 2.95 2014-03-31 Percent [+]
GDP 1821.40 2012-12-31 1777.80 1821.40 40.80 1919.74 2013-12-31 USD Billion [+]
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Canadian Economy Resilient in Q4

In the last three months of 2013, Canada’s GDP advanced 0.7 percent on a quarter-on-quarter basis, the same rate recorded in the preceding quarter. The annualized growth rate was recorded at 2.9 percent, better than 2.7 percent in the third quarter.

Final domestic demand rose 0.3 percent in the fourth quarter, as household and government final consumption expenditure increased while business gross fixed capital formation declined. This was the second consecutive quarter that final domestic demand grew at a slower pace than real GDP.

Household final consumption expenditure advanced 0.8 percent, led by increased spending on services and non-durable goods. Outlays on semi-durable goods were also higher.

Business gross fixed capital formation declined 0.5 percent after increasing 0.3 percent in the third quarter. Business investment in residential and non-residential structures were both lower, while outlays on machinery and equipment were higher.

Business investment in inventories was $18.1 billion in the fourth quarter, up from $12.4 billion in the third quarter. Non-farm inventories accounted for most of the added stock.

Exports rose 0.4 percent after a flat third quarter. Imports increased 0.2 percent after declining the previous quarter. 

For 2013 as a whole, the GDP grew by 2.0 percent from 2012 after increasing by 1.7 a year earlier.

Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
2/28/2014 1:46:17 PM

RECENT RELEASES

Canada's GDP Growth Accelerates to 0.7% QoQ in Q3
Canadian GDP quickened in the third quarter of 2013 to its fastest pace in nearly two years. The GDP expanded 0.7 percent quarter-on-quarter, following a 0.4 percent growth in the previous three-month period, as household and government final consumption and business investment all increased. Published on 2013-11-29

Canadian GDP Growth Slows to 0.4% QoQ in Q2
In the second quarter of 2013, Canadian GDP grew 0.4 percent quarter-on-quarter, following 0.5 percent growth in the first quarter, mainly due to a drop in investment. Published on 2013-08-30


GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


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