In 2023, manufacturing contributed approximately 8.40% to Canada's GDP. Forecasts indicate a declining trend from 8.18% in 2024 to 7.22% in 2028. The year-on-year decrease is roughly 3.09% in 2025, 3.02% in 2026, 3.12% in 2027, and 3.09% in 2028. The compound annual growth rate (CAGR) from 2024 to 2028 reflects an average decline of about 3.04% per year.
Future trends to watch for include:
- Technological advancements impacting manufacturing efficiency.
- Shifts in global trade policies affecting exports.
- Environmental regulations influencing manufacturing processes and costs.
