In 2023, the output for Public Administration and Defence, Compulsory Social Security in Canada stood at approximately 313 billion Canadian Dollars. From 2024 to 2028, the forecasted annual output shows a steady growth trajectory, increasing from approximately 319.78 to 347.11 billion Canadian Dollars. The year-on-year growth rates are as follows: 2024 to 2025 shows a 2.17% increase, 2025 to 2026 at 2.10%, 2026 to 2027 a 2.04% rise, and 2027 to 2028 at 1.98%. The compound annual growth rate (CAGR) over these five forecasted years is estimated at approximately 2.07%.
Future trends to watch for include potential impacts from government policy changes, technological advancements in public administration and defense, and shifts in social security demands. Monitoring demographic changes and political developments both domestically and internationally will be essential to understanding further implications on the sector's growth trajectory.
