North America | Rank #11 nominal, #16 PPP
GDP of Canada: $2.5T in 2026 (IMF Data)
G7 economy heavily integrated with the US market, with a resource-rich production base and one of the highest immigration rates in the OECD.
Source: IMF World Economic Outlook (April 2026 release) | Last verified June 2026
Canada 2026
$2.5T
Nominal GDP (USD)
+1.5%
Real GDP growth, 2026 IMF projection
$60,300
Per capita (nominal USD)
$2.9T
PPP GDP (international USD)
Population (2026)
41M
Currency
CAD
Capital
Ottawa
Region
North America
The Canada Economy in 2026
Canada's economy is structurally tied to the United States. Around 75 percent of merchandise exports go south of the border, primarily crude oil (Canada is the world's fourth-largest producer), automotive products, and other natural resources. The CUSMA (formerly NAFTA) trade agreement underpins this integration. Toronto and Vancouver host significant financial-services and technology sectors.
Canada has the highest sustained immigration rate in the G7 at roughly 1 percent of population per year, driving headline GDP growth even as per-capita output has stagnated. Housing affordability has become acute, with Toronto and Vancouver among the world's least-affordable major housing markets relative to local incomes. Population is now over 41 million.
Real GDP growth was 1.3 percent in 2025 and the IMF projects 1.5 percent for 2026. Per-capita GDP growth has been negative or flat for several years, a phenomenon Canadian economists have labelled the productivity gap. The Bank of Canada cut rates earlier and more aggressively than the Federal Reserve as inflation cooled, providing some relief to heavily indebted households.
Sector Composition
How Canada's GDP breaks down by economic sector (approximate 2024 shares, source: World Bank national accounts).
Expenditure Components: C + I + G + (X-M)
Approximate shares of Canada's GDP by spending category. Net exports are negative (trade deficit).
Note: Shares are calculated on an absolute basis for visual proportionality. Negative net exports reduce GDP rather than adding to it.
Historical GDP Trajectory
| Year | Nominal GDP (USD) | Real Growth |
|---|---|---|
| 2014 | $1.8T | +2.9% |
| 2020 | $1.6T | -5.0% |
| 2024 | $2.3T | +1.2% |
| 2025 | $2.3T | +1.3% |
| 2026 | $2.5T | +1.5% |
Source: IMF World Economic Outlook (2026 forecast) and World Bank Open Data (earlier-year actuals). Nominal GDP is shown in current US dollars and moves with exchange rates as well as real output, so dollar levels for recent years can shift between data vintages. Figures rounded to one decimal trillion; real growth is the inflation-adjusted annual change in GDP.
Top Exports
The goods and services Canada sells abroad in the largest volumes, contributing to the (X) term in the GDP formula.
Sources
- IMF Canada Country Page: primary source for nominal and PPP figures, WEO April 2026 dataset.
- World Bank Open Data: Canada: historical series, cross-check on sector shares.
- Statistics Canada (StatCan): official national accounts.
- IMF World Economic Outlook: the headline biannual cross-country dataset.