Mobilizing Finance for ESG Initiatives and Economic Resilience
Canadian Economy
Diverse sources of growth with a strong balance sheet
20.9%
Finance, Insurance,
& Real Estate
14.0%
Other
3.6%
Transportation
& Warehousing
6.3%
Professional,
Scientific,
& Technical
Services
7.0%
CANADIAN GDP
BY INDUSTRY
(May 2021)
Public Administration
GDP Growth 2021F:
6.2%
-12.6%
Real GDP Growth
Health & Education
10.5%
Wholesale &
Retail Trade
7.5%
9.5%
Manufacturing
8.1%
Mining and Oil
& Gas Extraction
Construction
GDP Growth 2022F:
4.2%
3
N
ANNUAL % CHANGE
C
■ILLL
U.S.
Canada
Eurozone
2020-2022F
U.K.
Japan
2010-2019
Sources: Scotiabank Economics, Haver Analytics, Statistics Canada.
Forecasts as of Jul 23, 2021.
General Government Net Debt in 2020
% OF GDP
91
50
33
Canada Germany OECD
Sources: Bloomberg, as of August 20, 2021
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
U.K.
U.S. France
Italy
Japan
Adv.
Econ.
JN
U.K.
U.S.
CA*
* Canadian federal deficit reflects Scotiabank Economics' forecast as of Jul 23, 2021.
Sources: Scotiabank Economics, IMF Fiscal Monitor (April 2021 estimates), CBO.
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