CANADIAN MARKET OVERVIEW

ECONOMY

GDP: 1.9 trillion 4.6% growth in 2021 after the COVID-19 pandemic induced decline (-5.2%) in 2020

Currency: $1 CAD

Inflation: 6.3% in 2022

Labour Force: 19.7 million Umemployment Rate: 5%

Population

80% of Canadians live within 160 km of the U.S. border

61% of Canadians live in Ontario and Quebec

3 in 4 Canadians live in either Toronto, Montreal or Vancouver

Society

38.6 Million total population 2022 (increased by 1.8 million since the 2016 census)

1.44 Million nearly four-fifths of the 1.8 million population increase from 2016 to 2021 was attributable to new arrivals to Canada

English & French two official languages

Major Religions

Christian – 53.3%

Muslim – 4.9%

No Religion – 34.6%

Other Religion – 7.2%

Four Seasons

Winter: December – March

Spring: April – June

Summer: July – August

Fall: September – November

Business

9:00 AM to 5:00 PM
Hours of Business: Monday to Friday

Retail Hours: Monday through Sunday
Open later Thursday & Friday

6 time zones across Canada:
Pacific Time Zone, Mountain Time Zone, Central Time Zone, Eastern Time Zone, Atlantic Time Zone, Newfoundland Time Zone

Daylight Savings Time: 2nd Sunday of March 

Politics

Type of Government:

Parliamentary Democracy
Federation
Constitutional Monarchy

Levels of Government:

Federal
Provincial/Territorial
Municipal

Public holidays

FEB 15 – FAMILY DAY (MID FEBRUARY)

APR 2 – GOOD FRIDAY

APR 5 – EASTER MONDAY

MAY 24 – VICTORIA DAY

JUN 24 – ST. JEAN BAPTISTE (QUEBEC ONLY)

JUL 1 – CANADA DAY

AUG 2 – CIVIC HOLIDAY 1ST

MONDAY IN AUGUST (EXCEPT QUEBEC AND YUKON)

SEP 6 – LABOUR DAY

OCT 11 – THANKSGIVING DAY

NOV 11 – REMEMBRANCE DAY

DEC 25 – CHRISTMAS DAY

DEC 26 – BOXING DAY

DEC 27 – OFF FOR CHRISTMAS DAY

JAN 1, 2024 – OFF FOR NEW YEAR DAY