Canada‘s manufacturing was that nation’s largest goods-producing industry by GDP (at basic prices) in 2022. 

According to the Canadian government, real output rose 3.1% in 2018, 0.0% in 2019 and fell 8.5% in 2020. 

Then, output recovered in 2021 and 2022, growing 5.9% and 3.7% respectively. 

Manufacturing output growth from 2018 to 2022 was highest in miscellaneous manufacturing (up 23.5%), computer and electronic manufacturing (up 20.3%), and beverage and tobacco product manufacturing (up 19.3%). 

Canada’s manufacturing

Losses were greatest in printing and related support activities (down 28.4 percent) and transportation equipment manufacturing (down 17.1 percent). 

Year-over-year growth in manufacturing output fell 0.9%, 0.5%, and 1.0% in the first, second, and third quarters of 2023, respectively.

On the other hand, the share of service-producing industries in real GDP at basic prices grew between 2012 (72.0%) and 2022 (73.2 percent). 

The fastest growing industry in the services sector has been finance, insurance and real estate, which grew at an average annual growth rate of 2.9 percent between 2012 and 2022, compared to an average annual growth rate of 2.1 percent for the services sector overall. 

While the goods-producing sector accounted for 26.8% of real GDP at basic prices in 2022, down from 28.0% in 2012, the largest decline occurred in the manufacturing sector, whose share fell from 11.0% in 2012 to 9.9% in 2022.

Economy

Real GDP at market prices grew 3.8 percent in 2022, continuing the post-Covid-19 rebound experienced in 2021 (+5.3 percent). 

after the Canadian economy contracted 5.0% in 2020, grew 1.9% in 2019 and 2.7% in 2018, GDP growth slowed in 2023, posting year-over-year growth of 1.8% in Q1 2023, followed by increases of 1.2% and 0.5% in Q2 2023 and Q3 2023, respectively.