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June 13, 2022CANADA NATIONAL BALANCE SHEET ACCOUNTS, Q1 2022 
In the first quarter of 2022, Canadian national wealth increased 5.1% (or +$793.3 billion) to $16,440.6 billion. This follows a revised increase of 6.1% in the fourth quarter of 2021. Growth in value of residential real estate and natural resource assets was offset by a contraction in Canada's net foreign asset position that was mostly attributable to falling equity prices.
Total assets, including financial and non-financial assets increased by 1.0% to $59,659.9 billion at the end of Q1 2022, following a 4.4% increase in Q4 2021.
Household sector
In Q1 2022, Canada’s household sector net worth increased $194.7 billion to $16,191.7 billion on the continued appreciation of housing. The value of household financial assets decreased (-1.0%) for the first time since Q1 2020 on falling debt securities, foreign equities, mutual fund shares and life insurance/pension funds. Financial liabilities increased $35 billion on continued expansion of outstanding mortgage debt. These were more than offset by increases in the value of non-financial assets. The value of residential real estate grew 3.9% in Q1 2022, largely attributable to ongoing growth in the value of residential land and structures. Real estate assets as a percentage of disposable income continue to increase to 583.7% at the end of Q1 2022 (up from 509.4% at the end of Q1 2021).
Household credit market debt as a proportion of household disposable income fell to 182.47 in Q1 2022.
In Q1 2022, household debt payments fell to 13.48% of disposable income.
Government sector
At the end of Q1 2022, general government net debt (book value) declined again to 43.1% of GDP. The federal government's net debt to GDP ratio decreased to 36.46%. Net debt of other levels of government decreased to 22.78% of GDP.
Corporate sector
The credit market debt to equity ratio of non-financial private corporations decreased to 56.48 cents of credit market debt for every dollar of equity in Q1 2022, down from 57.08 cents (revised) in Q4 2021.
Source: Statistics Canada. Table 11-10-0065-01 Debt service indicators of households, national balance sheet accounts; Table 36-10-0580-01 National Balance Sheet Accounts (x 1,000,000); Table 38-10-0235-01 Financial indicators of households and non-profit institutions serving households, national balance sheet accounts; Table 38-10-0236-01 Financial indicators of corporate sector, national balance sheet accounts; Table 38-10-0237-01 Financial indicators of general government sector, national balance sheet accounts; Table 38-10-0238-01 Household sector credit market summary table, seasonally adjusted estimates
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