🍁 Canada's GDP was 3% of the global economy in the early 1970s but has dropped to 2% (USD $2.2T) of the world's USD $109T GDP.
📉 Main Trends:
1. Drop due to a more competitive world, mainly the growth of Asian economies like China over the last 40 years.
2. Canada's population has been around 0.5% of the world total, dropping slightly from 0.6% in the 1960s to 0.49% in 2022.
📊 Volatility:
Significant volatility is mainly driven by fluctuations in foreign exchange and oil prices.
Meanwhile, Canada’s GDP per capita, purchasing power parity, was about $60,000 (international dollars) in 2023.
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