In 2023, Canada's GDP composition was predominantly driven by the services sector at around half of the total GDP. The mining, manufacturing, and utilities sector contributed significantly, accounting for about one-fifth. Wholesale, retail trade, restaurants, and hotels also represented an essential part of the economy. Construction and transport, storage, and communication had lesser yet notable shares, while agriculture and related sectors, although crucial, had the smallest share. Over the past two years, the services and mining sectors showed positive growth, whereas agriculture remained stable. The five-year CAGR highlighted moderate growth, particularly in services and manufacturing.
Future trends to watch include potential expansions within the tech-driven segments of the services sector, further innovation in the manufacturing industries, and evolving trade dynamics impacting wholesale and retail. Additionally, sustainability initiatives are likely to influence utilities and agriculture significantly.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 49.94 | 2016 | |
| 2 | 2 Mining, Manufacturing, Utilities | 20.5 | 2016 | |
| 3 | 3 Wholesale, retail trade, restaurants and hotels | 12.36 | 2016 | |
| 4 | 4 Construction | 8.01 | 2016 | |
| 5 | 5 Transport, storage and communication | 7.5 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 1.69 | 2016 |
