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Dear John,
Canada had the third-lowest growth in GDP per person from 2014 to 2022 among 30 advanced economies.
In 2002, Canada’s GDP per capita was higher than the OECD average by US$3,141. By 2022, it had fallen well below the OECD average by US$231.
Canada lost ground compared to key allies and trading partners such as the United States, United Kingdom, New Zealand, and Australia between 2014 and 2022.
By 2022, Canadian GDP per person was only at $46,035 versus $63,685 in the US. In other words the gap had grown from $10,895 to $17,649 by 2022.
Canada has been experiencing a collapse in investment, low productivity growth, and a large and growing government sector, all of which contribute to reduced growth in living standards compared to our peer countries in the OECD.
Check out the full study here.
Sincerely,
Niels Veldhuis
President
The Fraser Institute
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