The recent evolution of Canada’s GDP growth reveals a path marked by some initial volatility followed by gradual stabilisation. After the economic contraction of 2020, resulting from the COVID-19 pandemic, Canada experienced, in 2021, like most countries worldwide, a significant increase in GDP growth, due to the recovery in economic activity. In that year, the rate reached its peak during the period under review, standing at around 6%.

In 2022, growth in the Canadian economy slowed, but remained at a relatively high level of 4.2%. In 2023, the pace of growth became even more moderate, influenced by rising inflation, restrictive monetary policies introduced to contain it, and various economic and geopolitical challenges. Since then, Canada’s economy has been stabilising, maintaining more subdued growth. Growth projections for 2025, at 1.4%, point to a slowdown in the Canadian economy compared with previous years, reflecting the persistent effects of high interest rates, weaker domestic demand and uncertainty in the global economic environment. Canada’s GDP is expected to reach US$2.23 trillion (€1,921.75 billion¹) in 2025.

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