Three provinces record highest GDP in 2024
Nov. 07, 2025
Global Korean Post
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Canada’s gross domestic product (GDP) increased 2.0% in 2024, the same rate of increase as in 2023, and following a 4.7% rise in 2022.
The increase in 2024 was mainly driven by higher household final consumption expenditure, followed by a rise in government final consumption expenditure and exports.
However, slower inventory accumulation and a decline in business investment moderated the overall increase in GDP in 2024.
In 2024, GDP rose in all provinces and in Nunavut, while Yukon and the Northwest Territories posted declines.
Nunavut (+6.9%) posted the largest percentage increase in GDP, followed by Prince Edward Island (+3.8%), Nova Scotia (+3.1%), Saskatchewan (+3.0%) and Alberta (+3.0%).
The three largest provinces—Quebec (+1.7%), Ontario (+1.6%) and British Columbia (+1.1%)—all grew at slower paces than the overall Canadian economy.
(Source: Statistics Canada)
