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June 30, 2022CANADA GDP BY INDUSTRY, APRIL 2022 Month-over-month (April 2022 vs March 2022)
Real Gross Domestic Product (GDP) in Canada increased 0.3% to an annualized value of $2,053 billion (chained 2012 dollars at basic prices) in April 2022. This follows after growth of 0.7% in March.
Statistics Canada’s preliminary estimate for May 2022 real GDP shows a 0.2% contraction on reductions in construction, manufacturing, and mining, oil and gas extraction.
Canada's goods-producing sector output increased 0.9% from March to April 2022 with gains particularly concentrated in oil and gas extraction (+3.9% particularly from oil sands) and oil and gas support industries (+6.2%) as well as non-metallic mineral mining (+3.6%, especially from rising potash output).
Real GDP in Canada's services-producing industries was up 0.1% from March to April. There were continued gains in client facing industries such as accommodation and food services (+4.6%) as well as arts, entertainment and recreation (+7.0%). Real estate, rentals and leasing (-0.8%) as well as finance and insurance (-0.7%) real GDP contracted in March. Retail trade rebounded with a 0.9% gain in real GDP while real GDP from transportation and warehousing grew 2.2% on a 20% expansion in air transportation.
Year-to-Date (January-April 2022 vs January-April 2021)
The Canadian economy was 4.0% larger in the first four months of 2022 when compared to the same period in 2021. Real GDP from goods producing industries was up 3.0% with year-to-date gains in all industries except agriculture, forestry and fishing (-1.4%).
Real GDP from services-producing industries was up 4.4% with the strongest increases in arts, entertainment and recreation (+53.2%) as well as accommodation and food services (35.1%). There were also notable increases in personal and repair services (8.9%), professional and technical services (7.4%), information and cultural industries (6.9%) as well as transportation and warehousing (7.4%). Real GDP from the (relatively small) management of companies and enterprises industry fell by 30.9%.
Source: Statistics Canada, Table 36-10-0434-01 Gross domestic product (GDP) at basic prices, by industry, monthly (x 1,000,000)
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