Scotiabank Pacific Alliance Expansion
Canadian Economy
Diverse sources of growth with a strong balance sheet
21.1%
Finance, Insurance,
& Real Estate
14.2%
Other
3.6%
Transportation
& Warehousing
6.3%
Professional,
Scientific,
& Technical
Services
6.9%
CANADIAN GDP
BY INDUSTRY
(Feb. 2021)
Public Administration
GDP Growth 2021F:
6.4%
-12.6%
Real GDP Growth
Health & Education
10.7%
Wholesale &
Retail Trade
7.4%
9.6%
Manufacturing
7.6%
Mining and Oil
& Gas Extraction
Construction
GDP Growth 2022F:
4.1%
3
N
ANNUAL % CHANGE
C
U.S.
ILLL
Canada
Eurozone
2020e-2022f
U.K.
Japan
2010-2019
Sources: Scotiabank Economics, Haver Analytics, Statistics Canada.
Forecasts as of Apr 22, 2021.
General Government Net Debt in 2020
% OF GDP
91
50
33
Government Financial Deficits in 2020
0
(4.2)
-5
(9.5) (9.9)
-10
(11.7) (12.6)
(13.4)
169
(15.8)
142
(16.1)
-15
546
103
104
94
|-20
24
% OF GDP
-25
GE
IT
FR
France
Italy
Japan
Adv.
Econ.
JN
U.K.
U.S.
CA*
Canada Germany OECD
U.K.
U.S.
Sources: Scotiabank Economics, IMF Fiscal Monitor (April 2021).
* Canadian federal deficit reflects Scotiabank Economics' forecast as of Apr 22, 2021.
Sources: Scotiabank Economics, IMF Fiscal Monitor (April 2021 estimates), CBO.
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