Canada: Fiscal balance, percent of GDP

* indicates monthly or quarterly data series
 Canada

Fiscal balance, percent of GDP

 Latest value -1.30
 Year 2023
 Measure percent
 Data availability 1967 - 2023
 Average -2.52
 Min - Max -14.80 - 1.80
 Source Government of Canada
For that indicator, we provide data for Canada from 1967 to 2023. The average value for Canada during that period was -2.52 percent with a minimum of -14.8 percent in 2021 and a maximum of 1.8 percent in 2001. The latest value from 2023 is -1.3 percent. For comparison, the world average in 2023 based on 112 countries is -3.16 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Canada - Fiscal balance, percent of GDP - Recent values chart

Historical chart
Canada - Fiscal balance, percent of GDP - historical chart - 1967-2023




Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. We express the value as percent of GDP to relate it to the size of the economy.

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 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 20.69 2022 percent
 Government spending, in dollars 454.35 2023 billion U.S. dollars
 Fiscal balance, percent of GDP -1.30 2023 percent
 Government debt 107.13 2023 percent
 Government expenditure 152.30 Q3/2023 billion
 Long-term government bond yield 3.82 9/2023 percent
 Tax revenue 12.83 2022 percent
 Commercial tax rate 24.50 2019 percent
 Tax preparation time 131 2019 hours
 Number of taxes 8 2019 taxes
 Taxes on goods and services 14.07 2022 percent
 Taxes on international trade 1.26 2022 percent
 Income and profits taxes 55.09 2022 percent
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