Forecast: Financial Service Activities Gross Value Added in Canada

The Financial Service Activities Gross Value Added (GVA) in Canada has shown consistent growth from 2013 to 2023, reaching 122.84 billion Canadian Dollars in 2023. Year-on-year variations indicate significant periods of growth, especially between 2013 and 2014 (7.7%) and more stable growth in later years, such as from 2022 to 2023 (2.26%). The compound annual growth rate (CAGR) over the last five years leading to 2023 is 2.27%. The forecast from 2024 to 2028 predicts a stable upward trend with a five-year CAGR of 1.62% and a cumulative growth rate of 8.35%.

Future trends to watch for include:

• The impact of technological advancements on financial services.
• Regulatory changes that could affect financial activities.
• Economic factors influencing the broader financial market environment.
• Increased focus on sustainable and green finance initiatives.