Will Canadian GDP in 2030 be lower than the combined GDP of Australia and New Zealand?
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As of 2023, Canada's GDP was approximately USD 2.1 trillion, while Australia's was around USD 1.7 trillion and New Zealand's was about USD 247 billion.
- This means Australia and New Zealand's combined GDP was approximately USD 1.95 trillion, still below Canada's GDP by about USD 150 billion.
- Canada's economy has historically been larger than the combined economies of Australia and New Zealand.
- However, growth rates and economic trajectories can change over time.
- Canada's economic growth is projected to be around 1.9% to 2.0% annually from 2027 to 2029, according to TD Economics.
- The Bank of Canada and other forecasters generally project modest but steady growth for the Canadian economy in the coming years.
