In 2023, sub-central government procurement in Canada (excluding social security funds) stood at USD 219.54 billion PPP. The forecast for 2024 indicates a gradual increase, with the value expected to reach USD 222.24 billion. Subsequent yearly projections suggest steady growth, with a slight uptick by an average of 1.2% year-on-year. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is approximately 1.3%.

Future trends to watch for:

Technological advancements driving efficiency in procurement processes.
Potential impacts from policy shifts affecting budget allocations at the sub-central government level.
Economic factors, such as inflation and exchange rate fluctuations, influencing purchasing power.