GDP
Although the US exceeds the average GDP amongst the other four countries, its real GDP is quite lower than Canada's; China, on the other hand, is the winner when it comes to real GDP.
The reason why Canada's real GDP is ranked 132 out of 216 is mostly because of all the changes in its price level throughout the past few decades. For example, glancing further below at the real GDP graph, we see it took its toll around 2008.
The reason why Canada's real GDP is ranked 132 out of 216 is mostly because of all the changes in its price level throughout the past few decades. For example, glancing further below at the real GDP graph, we see it took its toll around 2008.
Canada's Real GDP v. Nominal GDP
Taking a look at Canada's real GDP (the graph on the right), we can see that there was a drastic drop in its purchasing power in 2008. According to CBC news, consumers declined: "Business investment in machinery and equipment contracted 7.5 per cent in the last quarter of 2008. All categories recorded declines, most notably automobiles, trucks, and industrial machinery."
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Per Capita GDP
In spite of Canada having a rather low GDP (when comparing it to the other countries), it misses the US by only about $8,000. According to Askville, per capita income can be calculated by dividing the country's annual national income "equally among everyone". In addition, the CIA Factbook ranks Canada 20 out of 227; it beat every other country except the United States.
The graph further below (Canada's GDP Growth Rate) supports the assertion of why its real GDP hasn't increased over the past couple of years; observing how it dropped about 1.8% after 2008, though it managed to move back up in the positive numbers, displaying that they made some progress. However, it shows how slightly inconsistent the growth rate is.
The graph further below (Canada's GDP Growth Rate) supports the assertion of why its real GDP hasn't increased over the past couple of years; observing how it dropped about 1.8% after 2008, though it managed to move back up in the positive numbers, displaying that they made some progress. However, it shows how slightly inconsistent the growth rate is.