In 2023, the production of fabricated metal products in Canada stood at 45.50 billion Canadian Dollars. The forecasted data indicates a steady increase in production from 46.57 billion CAD in 2024 to 49.68 billion CAD by 2028.
- From 2024 to 2025, there is a year-on-year growth of 1.72%.
- From 2025 to 2026, the growth is projected at 1.67%.
- From 2026 to 2027, a slightly lower growth rate of 1.58% is forecasted.
- From 2027 to 2028, the growth rate is expected to be 1.55%.
Over the five-year period (2023-2028), there is a cumulative annual growth rate (CAGR) of approximately 1.78% in the production of fabricated metal products.
Future trends to watch for include technological advancements in manufacturing processes, shifts in trade policies affecting metal imports and exports, and potential economic factors such as inflation and interest rates that may impact production costs and demand.
