1. Canada GDP_growth standalone

From 2016 to 2019, Canada’s economy grew steadily, driven by favourable global trade conditions, a strong housing market and consumer spending. GDP growth averaged 2.2 % annually, before a 5 % GDP contraction in 2020 due to the COVID-19 pandemic. The economy rebounded (5.3 %) in 2021, helped by government stimulus measures and a national vaccination programme. The post-pandemic recovery continued in 2022, with GDP growth moderating to 3.8 % and further slowing to 1.1 % in 2023 (see figure 3). Along with GDP growth, Canada also registered the fastest employment recovery among G7 countries, with more than 1.1 million Canadians employed in early 2024 compared with pre-pandemic levels. However, this trend is at risk following the US administration’s decision on 2 April 2025, to impose tariffs.