The Gross Value Added (GVA) for Public Administration and Defence, Compulsory Social Security in Canada is forecasted to grow steadily from 2024 to 2028. The data projects a consistent annual growth trajectory, with values increasing from 174.69 billion CAD in 2024 to 189.96 billion CAD in 2028. In 2023, the base figure stood at 170.85 billion CAD.
Year-on-year growth percentages reflect a gradual increase:
- 2025 over 2024: 2.21%
- 2026 over 2025: 2.15%
- 2027 over 2026: 2.08%
- 2028 over 2027: 2.02%
The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is approximately 2.11%, indicative of stable sector development.
Future trends to watch involve potential impacts from governmental fiscal policies, shifts in defense spending, and changes in compulsory social security frameworks. These factors could influence the sector's GVA dynamics beyond 2028.
