GDP is the value for all the goods and services produced within a country in a given period of time. Moreover, it is revealed the differences between GDP, GNP and GDP per capita, and why the only measure of GDP is not a determinant factor to estimate a country’s prosperity.

I have chosen this video because it is very straightforward, well explained, and concise. Moreover, I like the way this video is exposed, the differences between GDP, GNP and GDP per capita. For instance, Cars produced by general motors assembly plant in Oshawa- Ontario counts as Canadian GDP and as American GNP.

I have selected this five-minute video because it is didactic and easy to understand. Although, there is no pictures or graphics shown in this video, the methodology used by the narrator is clear and simple. If you usually feel overwhelmed by courses such as economics, math, due to the complexity of its formulas, here you will find a straightforward and interesting video from start to finish.

I have selected this article because it focuses on different approaches of this topic. It is not only explained in detail the differences of Nominal and real GDP, in addition at the last part of the article you can find a section about Frequently Asked Questions. For instance, informal economy in Canada does not count for GDP.

Here is the link to the article, hope you enjoy it.

I selected this video because I found it very didactic. The edition and pictures are simple and easy to understand, and it only takes 2 minutes to watch it. Moreover, there is also a brief explanation about GDP per capita which is the ability of people to purchase goods and services. 

This video is a brief introduction to understand concepts of content of Canada’s economy that I will show you later.

I have selected this website because of its concise explanations and examples. Moreover, it is shown the ranking of nations with the highest per capita GDP which I found very interesting.

Although, Canada does not appear in the top ten of nations with highest GDP per capita in the world, Canada has a great GDP per capita. In the following posts I will thoroughly address this topic.

This line graph below shows the evolution of Canada GDP per capita from 1960 to 2019. In the last two decades the GDP per capita of Canada has doubled. However, it has not been witnessed a significant rise in the GDP per capita in the last 12 years.

Undoubtedly, GDP per capita underwent a rapid increase throughout the period from 2002 to 2008 accounting for USD$ 24,169 at 2002 and USD$ 46,594 at 2008. These figures show us the tremendous potential of Canadian economy. 

However, Canada GDP has been stagnated in the last decade. The current Canada GDP per capita (2019) is USD$ 46,194 which is slightly lower than the GDP per capita in 2008.

Why has economic growth stopped? What prevents economic growth? What are politicians doing wrong? So many questions to answer, we will try to address these issues in the following posts.

I have selected this image because it is very important to know the evolution of Canadian GDP. Moreover, the world bank is one of the most prestigious resources of information about economics in the world.

Reference:
The World Bank. (2019). GDP per capita (current US$) – Canada. https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=CA

I selected this video because I found interesting how this index shows us the direct relationship between economic freedom and economic growth. Moreover, countries with higher Index of economic freedom not only enjoy a better financial prosperity but have better health systems, better education, and surprisingly better protection systems to the environment.

In the following posts I will show the position of Canada in the ranking of the index of economic freedom. 

I selected this website because you can find lots of information about Canadian economy. First, the economic freedom index measures Canadian economy in four pillars of economic freedom: Rule of law, government size, regulatory efficiency, and open markets. Canada is the 9^th freest country in the 2021 index with an overall score of 77.9.

Although Canada is ranked first in the region, its overall score has decreased in the last years due to a decline in property rights. Moreover, over the past three years budget deficits have averaged 0.3 percent of GDP which it is not good, no matter how minimal.

I have selected this website because there is a lot of information about Canadian economy such as charts, diagrams and pdf’s. 

Undoubtedly, there is a direct relationship between economic growth and the ease of doing business index. The top 5 in this index are usually countries with highest GDP growth.

Canada economy is lagging behind in Doing Business ranking compared to USA and UK which are situated in the 6^th and 8^th position respectively. 

Hope you enjoy this post.

I have selected this image because the rise in population directly affects the GDP per capita. As we have seen in the post Website#2, GDP per capita is calculated by dividing the Gross Domestic Product (GDP) of a country by its population.

The population in Canada accounted for 33,628,895
at 2009. Ten years later, in 2019 this figure increased to exactly 37,589,262. This means an increase of 12% in this figure for 10 years. Therefore, GDP should increase more than 12% in a 10-year period to be positively reflected in the GDP per capita.

Reference:
The World Bank. (2019). Population, total – Canada. https://data.worldbank.org/indicator/SP.POP.TOTL?locations=CA&start=1960&end=2019&view=chart