The output of the computer, electronic and optical products manufacturing sector in Canada experienced growth from 2013 to 2019, peaking at 16.86 billion CAD in 2019. However, there was a decline in 2020, likely due to the pandemic, which continued mildly in the subsequent years, reaching 15.77 billion CAD in 2023. Year-on-year variations show a fluctuating trend with significant growth periods in 2018 and 2019 followed by a decline. The CAGR over the last five years further reflects a slight negative growth rate of -0.35% per year.
Looking ahead, the forecast anticipates a continued slight decline in output through 2028, with an average annual decrease (CAGR) of -0.24% per year. This suggests a subtle downward trend offering little to no growth prospects in the near future.
Future trends to watch for include technological advancements, global supply chain stability, changes in consumer demand for electronic goods, and potential new government policies aimed at spurring growth in high-tech manufacturing sectors.
