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Canada GDP Growth Rate (YoY)

Canada's Year-over-Year GDP growth rate slowed to 1.2% in Q2 2025, down from 2.3% in Q1 2025. This was the lowest growth in four quarters. The slowdown resulted from a contraction in exports, reduced business investment and lower household spending on utilities and alcohol. These were partly offset by increased business inventories and household spending on vehicles, insurance and food. Canada's record low Year-over-Year GDP growth was -12.2% in Q2 2020 and record high was 12.9% in Q2 2021.

Quarterly Historical Data (1962-2025)

(in %)
Quarter GDP Growth Rate (YoY)
Q2 2025 1.2%
Q1 2025 2.3%
Q4 2024 2.3%
Q3 2024 1.9%
Q2 2024 1.2%
Q1 2024 0.8%
Q4 2023 1.2%
Q3 2023 0.9%
Q2 2023 1.6%
Q1 2023 2.4%
Q4 2022 2.3%
Q3 2022 4.2%
Q2 2022 5.7%
Q1 2022 4.6%
Q4 2021 5.5%
Q3 2021 5.6%
Q2 2021 12.9%
Q1 2021 0.6%
Q4 2020 -3%
Q3 2020 -4.5%
Q2 2020 -12.2%
Q1 2020 -0.3%
Q4 2019 1.9%
Q3 2019 1.9%
Q2 2019 2.1%
Q1 2019 1.8%
Q4 2018 2.7%
Q3 2018 3%
Q2 2018 2.5%
Q1 2018 2.8%
Q4 2017 2.9%
Q3 2017 2.9%
Q2 2017 4%
Q1 2017 2.4%
Q4 2016 1.7%
Q3 2016 1.2%
Q2 2016 0.5%
Q1 2016 0.7%
Q4 2015 -0.4%
Q3 2015 0.2%
Q2 2015 0.8%
Q1 2015 2%
Q4 2014 2.8%
Q3 2014 3.1%
Q2 2014 3%
Q1 2014 2.6%
Q4 2013 3.4%
Q3 2013 2.5%
Q2 2013 1.8%
Q1 2013 1.6%
Q4 2012 0.7%
Q3 2012 1.3%
Q2 2012 2.6%
Q1 2012 2.4%
Q4 2011 3.1%
Q3 2011 3.5%
Q2 2011 2.8%
Q1 2011 3.1%
Q4 2010 3.6%
Q3 2010 3.6%
Q2 2010 3.4%
Q1 2010 1.7%
Q4 2009 -1.8%
Q3 2009 -4%
Q2 2009 -3.6%
Q1 2009 -2.2%
Q4 2008 0.1%
Q3 2008 1.4%
Q2 2008 0.9%
Q1 2008 1.6%
Q4 2007 2.1%
Q3 2007 2.4%
Q2 2007 2.3%
Q1 2007 1.4%
Q4 2006 1.6%
Q3 2006 2.1%
Q2 2006 3.1%
Q1 2006 3.8%
Q4 2005 3.3%
Q3 2005 3%
Q2 2005 3%
Q1 2005 3.5%
Q4 2004 3.9%
Q3 2004 3.8%
Q2 2004 3%
Q1 2004 1.6%
Q4 2003 1.5%
Q3 2003 1.3%
Q2 2003 1.8%
Q1 2003 2.6%
Q4 2002 3.5%
Q3 2002 3.6%
Q2 2002 2.6%
Q1 2002 2.3%
Q4 2001 1.4%
Q3 2001 1%
Q2 2001 2.1%
Q1 2001 3%
Q4 2000 4%
Q3 2000 5.3%
Q2 2000 5.8%
Q1 2000 5.5%
Q4 1999 5.7%
Q3 1999 5.7%
Q2 1999 5%
Q1 1999 4.2%
Q4 1998 3.8%
Q3 1998 3.4%
Q2 1998 3.7%
Q1 1998 4.8%
Q4 1997 4.7%
Q3 1997 4.5%
Q2 1997 4.2%
Q1 1997 3.7%
Q4 1996 2.5%
Q3 1996 2.1%
Q2 1996 1.4%
Q1 1996 0.7%
Q4 1995 1.5%
Q3 1995 1.8%
Q2 1995 3%
Q1 1995 4.5%
Q4 1994 5%
Q3 1994 4.7%
Q2 1994 4.4%
Q1 1994 3.8%
Q4 1993 3%
Q3 1993 3.1%
Q2 1993 2.7%
Q1 1993 1.9%
Q4 1992 1.3%
Q3 1992 0.9%
Q2 1992 0.5%
Q1 1992 0.9%
Q4 1991 -0.7%
Q3 1991 -1.7%
Q2 1991 -2.5%
Q1 1991 -3.4%
Q4 1990 -1%
Q3 1990 -0.4%
Q2 1990 0.7%
Q1 1990 1.5%
Q4 1989 1.7%
Q3 1989 2.6%
Q2 1989 2.3%
Q1 1989 2.8%
Q4 1988 3.1%
Q3 1988 3.7%
Q2 1988 5.3%
Q1 1988 5.7%
Q4 1987 6.6%
Q3 1987 4.4%
Q2 1987 3%
Q1 1987 2.3%
Q4 1986 -0.1%
Q3 1986 2.2%
Q2 1986 3.4%
Q1 1986 3.1%
Q4 1985 4.7%
Q3 1985 4.8%
Q2 1985 3.9%
Q1 1985 5.6%
Q4 1984 5.8%
Q3 1984 5.4%
Q2 1984 6.2%
Q1 1984 6.2%
Q4 1983 6.1%
Q3 1983 3.8%
Q2 1983 1.8%
Q1 1983 -1.4%
Q4 1982 -4%
Q3 1982 -3.6%
Q2 1982 -3.6%
Q1 1982 -1.4%
Q4 1981 1.9%
Q3 1981 3.8%
Q2 1981 4.6%
Q1 1981 3.4%
Q4 1980 2%
Q3 1980 1.2%
Q2 1980 2.1%
Q1 1980 3.5%
Q4 1979 3.6%
Q3 1979 3.9%
Q2 1979 4.1%
Q1 1979 3.4%
Q4 1978 3.5%
Q3 1978 4.1%
Q2 1978 3.8%
Q1 1978 3.6%
Q4 1977 4.3%
Q3 1977 2.8%
Q2 1977 2.7%
Q1 1977 4.4%
Q4 1976 4.6%
Q3 1976 5.6%
Q2 1976 7.2%
Q1 1976 6.2%
Q4 1975 3.9%
Q3 1975 2.1%
Q2 1975 0.2%
Q1 1975 0%
Q4 1974 1.4%
Q3 1974 3.8%
Q2 1974 4.2%
Q1 1974 4.2%
Q4 1973 6%
Q3 1973 6.5%
Q2 1973 6.3%
Q1 1973 8.3%
Q4 1972 5.2%
Q3 1972 3.9%
Q2 1972 6.5%
Q1 1972 6.6%
Q4 1971 6.4%
Q3 1971 5.4%
Q2 1971 3.6%
Q1 1971 0.7%
Q4 1970 1.8%
Q3 1970 3.1%
Q2 1970 3.2%
Q1 1970 3.6%
Q4 1969 4.4%
Q3 1969 4.3%
Q2 1969 4.6%
Q1 1969 7%
Q4 1968 6.5%
Q3 1968 5.5%
Q2 1968 4.3%
Q1 1968 3.7%
Q4 1967 2.6%
Q3 1967 3.4%
Q2 1967 3.1%
Q1 1967 3.1%
Q4 1966 5.4%
Q3 1966 6.7%
Q2 1966 8.2%
Q1 1966 6.9%
Q4 1965 8.2%
Q3 1965 6.1%
Q2 1965 5.8%
Q1 1965 5.2%
Q4 1964 4.5%
Q3 1964 7.2%
Q2 1964 6.9%
Q1 1964 8.1%
Q4 1963 6.1%
Q3 1963 4.9%
Q2 1963 5.4%
Q1 1963 4.8%
Q4 1962 6.9%
Q3 1962 6.2%
Q2 1962 7.4%
Q1 1962 9.3%
Canada GDP Growth Rate (YoY) : Definition
Canada's year-on-year GDP growth rate shows the percentage change in Gross Domestic Product between a quarter and the identical quarter one year earlier. This metric reflects economic performance. GDP is calculated using consumption, investment, government spending and net exports (exports minus imports). The calculation compares the current quarter's GDP to the previous year's same quarter.
Indicator Last Value Prior Value Period
GDP $2.24T $2.17T 2024
GDP Annual Growth Rate 1.53% 1.53% 2024
GDP Growth Rate (QoQ) -0.4% 0.5% Jun'25
GDP per Capita $44,401.72 $45,048.28 2024
GDP per Capita PPP $56,691.91 $57,517.44 2024
R&D Expenditure (% GDP) 1.7% 1.71% 2023
Real GDP $1.83T $1.81T 2024