Canada's 2024 GDP by Industry

In 2024, Canada’s economy continued to lean heavily on its service-producing industries, which made up 75% of the country’s total GDP. Real estate, trade, professional services, and healthcare stood out as the largest contributors, reflecting strong demand in urban housing, resilient consumer spending, and ongoing investments in health and professional sectors. Even as interest rates remained relatively high following efforts to rein in inflation, industries such as financial services and public administration held steady, underscoring the stable foundation of Canada’s service-based economy.

Goods-producing industries played a smaller role, with manufacturing and construction leading the segment. However, persistent economic uncertainty, high borrowing costs, and a slow rebound in global trade limited growth across much of this category. While inflationary pressures have eased, their aftereffects continue to weigh on input costs and capital investment, especially in sectors like mining, utilities, and agriculture. Overall, the data underscores Canada’s continued dependence on services to drive economic resilience.