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- Articles and reports: 36-28-0001202400500005Description: Headline inflation in Canada reached a 40-year high in 2022. Rising prices reduced the purchasing power of people whose incomes were not keeping pace with inflation and the current high inflation in Canada, as well as in many other countries, may be caused by both demand and supply factors. This article examines whether the current high inflation in Canada is demand–pull or supply–push.Release date: 2024-05-22
- Articles and reports: 36-28-0001202400400001Description: This article provides perspectives on the extent to which recent changes in gross domestic product per capita represent a departure from their long-term trend and discusses factors that have facilitated per capita growth in previous decades.Release date: 2024-04-24
- Articles and reports: 36-28-0001202400400005Description: The participation of women-owned businesses in exports is important for policies aiming to ensure that the benefits of international trade reach all groups. Women-owned small and medium-sized enterprises (SMEs) in Canada are as likely to export as those owned by men, and their export intensity (exports as a share of total sales) was not significantly different. This article examines factors related to the exporting success of women-owned small and medium-sized enterprises in Canada.Release date: 2024-04-24
- Articles and reports: 36-28-0001202300600002Description: As a small open economy, Canada’s price level is vulnerable to external factors that affect import prices such as geopolitical risks, exchange rate variations, global supply constraints, etc. As a large portion of consumption and inputs used in production are imported, rise in import prices will push up consumption prices and production costs as well, and hence may lead to higher inflation. This article aims at examining to what extent the current high inflation in Canada is impacted by the rise in import prices, and then examining what drive the rise in import prices.Release date: 2023-06-28
- Articles and reports: 36-28-0001202200500002Description:
The COVID-19 Pandemic has been affecting Canadians’ daily lives since the second quarter of 2020. Production and employment were cut back largely at the beginning in order to slow the spread of this contagious disease, leading to a sharp decline in income and a rise in the unemployment rate. GDP per capita of a country is often used for assessing the standard of living and its cross-country comparisons. Since 2020, Canada’s per capita GDP has averaged -1.3% per year, down from its long-term annual average of 1.2% from 1981 to 2019 and from 1.0% per year from 2010 to 2019. For a better understanding of the sources of Canada’s per capita GDP growth, this article decomposes GDP per capita into labour productivity, work intensity, employment rate, participation rate, and the share of working population. The contributions of these 5 ratios to Canada’s per capita GDP growth are examined.
Release date: 2022-05-25 - Articles and reports: 36-28-0001202100700003Description:
Since 2000, the oil and gas extraction industry has averaged 5% of GDP for Canada, 21% for Alberta, and 25% for Newfoundland and Labrador, making it an important contributor to the Canadian economy. Following the oil price crisis of March and April, 2020, many oil and gas companies in Canada cut back their production and investment plans. One year later the price of oil has increased to pre-crisis levels, and the recovering global economy may support a rebound in global oil demand. This article examines to what extent the industry has recovered from the crisis and the challenges facing the industry, now and in the future.
Release date: 2021-07-28 - Articles and reports: 36-28-0001202100500004Description:
The COVID-19 pandemic has changed how production occurs in the economy in two ways. One is the full or partial closure of non-essential activities such as travel, hospitality, arts and entertainment, personal services, airlines, etc. The other is the widespread shift from in-office work to working from home. This Insights article depicts labour productivity growth in Canada and its sources by industry during the COVID-19 pandemic in order to examine the implications these changes may have had on the productivity performance of the economy.
Release date: 2021-05-26 - 8. Canada’s oil and gas sector: The decline in production and investment and the impact on the economy ArchivedStats in brief: 45-28-0001202000100045Description:
The oil and gas industry is an important contributor to the Canadian economy, especially in Alberta. From the year 2000 onwards, its share in the total economy averaged about 5% of Canadian and 21% of Albertan GDP. The recent decline in oil prices will have a large impact on Canada's oil and gas industry, which in turn will affect other industries. This article estimates the economic impact of the potential decline in production and investment in the oil and gas industry due to recent shocks on the Canadian economy.
Release date: 2020-07-08 - 9. The Decline in Production and Investment in Canada’s Oil and Gas Sector and its Impact on the Economy ArchivedStats in brief: 11-626-X2020007Description:
This Economic Insights estimates the economic impact of the potential decline in production and investment in the oil and gas industry due to recent shocks in oil prices. Oil prices dropped sharply in March as the COVID-19 pandemic unfolded and as Russia and Saudi Arabia failed to reach an agreement to support oil prices by limiting production. In response, oil companies in Canada reacted by adjusting down both capital expenditures and production plan in 2020. This article uses input-output multipliers to estimate the impact of such cut backs in production and investment on GDP growth and jobs in the total economy under different scenarios.
Release date: 2020-07-08 - Articles and reports: 11F0019M2020008Description:
Multinationals play an important role in the world economy because they are larger, innovate more, are more productive and pay higher wages compared with non-multinationals. Multinationals (i.e., firms that have established affiliates or subsidiaries in other countries) have played an increasingly important role in many economies. In Canada, multinationals accounted for only 0.8% of all enterprises in 2016, but they held 67% of all assets in the Canadian economy (Schaffter and Fortier-Labonté 2019). Given the importance of multinationals to the Canadian economy, it is essential for policy makers to understand the economic performance and productivity advantage of multinationals operating in Canada.
To address policy-relevant research questions, a rich micro dataset covering all industries from 2000 to 2014 has been constructed for this study, using several administrative microdata files at Statistics Canada. This dataset is used to delve deeper into and estimate the productivity advantage of multinationals, including the selection and learning effects associated with multinationality. In addition, this study investigates whether and how research and development (R&D) investment contributes to the superior productivity performance of multinationals.
Release date: 2020-05-26
Stats in brief (2)
Stats in brief (2) ((2 results))
- 1. Canada’s oil and gas sector: The decline in production and investment and the impact on the economy ArchivedStats in brief: 45-28-0001202000100045Description:
The oil and gas industry is an important contributor to the Canadian economy, especially in Alberta. From the year 2000 onwards, its share in the total economy averaged about 5% of Canadian and 21% of Albertan GDP. The recent decline in oil prices will have a large impact on Canada's oil and gas industry, which in turn will affect other industries. This article estimates the economic impact of the potential decline in production and investment in the oil and gas industry due to recent shocks on the Canadian economy.
Release date: 2020-07-08 - 2. The Decline in Production and Investment in Canada’s Oil and Gas Sector and its Impact on the Economy ArchivedStats in brief: 11-626-X2020007Description:
This Economic Insights estimates the economic impact of the potential decline in production and investment in the oil and gas industry due to recent shocks in oil prices. Oil prices dropped sharply in March as the COVID-19 pandemic unfolded and as Russia and Saudi Arabia failed to reach an agreement to support oil prices by limiting production. In response, oil companies in Canada reacted by adjusting down both capital expenditures and production plan in 2020. This article uses input-output multipliers to estimate the impact of such cut backs in production and investment on GDP growth and jobs in the total economy under different scenarios.
Release date: 2020-07-08
Articles and reports (18)
Articles and reports (18) (0 to 10 of 18 results)
- Articles and reports: 36-28-0001202400500005Description: Headline inflation in Canada reached a 40-year high in 2022. Rising prices reduced the purchasing power of people whose incomes were not keeping pace with inflation and the current high inflation in Canada, as well as in many other countries, may be caused by both demand and supply factors. This article examines whether the current high inflation in Canada is demand–pull or supply–push.Release date: 2024-05-22
- Articles and reports: 36-28-0001202400400001Description: This article provides perspectives on the extent to which recent changes in gross domestic product per capita represent a departure from their long-term trend and discusses factors that have facilitated per capita growth in previous decades.Release date: 2024-04-24
- Articles and reports: 36-28-0001202400400005Description: The participation of women-owned businesses in exports is important for policies aiming to ensure that the benefits of international trade reach all groups. Women-owned small and medium-sized enterprises (SMEs) in Canada are as likely to export as those owned by men, and their export intensity (exports as a share of total sales) was not significantly different. This article examines factors related to the exporting success of women-owned small and medium-sized enterprises in Canada.Release date: 2024-04-24
- Articles and reports: 36-28-0001202300600002Description: As a small open economy, Canada’s price level is vulnerable to external factors that affect import prices such as geopolitical risks, exchange rate variations, global supply constraints, etc. As a large portion of consumption and inputs used in production are imported, rise in import prices will push up consumption prices and production costs as well, and hence may lead to higher inflation. This article aims at examining to what extent the current high inflation in Canada is impacted by the rise in import prices, and then examining what drive the rise in import prices.Release date: 2023-06-28
- Articles and reports: 36-28-0001202200500002Description:
The COVID-19 Pandemic has been affecting Canadians’ daily lives since the second quarter of 2020. Production and employment were cut back largely at the beginning in order to slow the spread of this contagious disease, leading to a sharp decline in income and a rise in the unemployment rate. GDP per capita of a country is often used for assessing the standard of living and its cross-country comparisons. Since 2020, Canada’s per capita GDP has averaged -1.3% per year, down from its long-term annual average of 1.2% from 1981 to 2019 and from 1.0% per year from 2010 to 2019. For a better understanding of the sources of Canada’s per capita GDP growth, this article decomposes GDP per capita into labour productivity, work intensity, employment rate, participation rate, and the share of working population. The contributions of these 5 ratios to Canada’s per capita GDP growth are examined.
Release date: 2022-05-25 - Articles and reports: 36-28-0001202100700003Description:
Since 2000, the oil and gas extraction industry has averaged 5% of GDP for Canada, 21% for Alberta, and 25% for Newfoundland and Labrador, making it an important contributor to the Canadian economy. Following the oil price crisis of March and April, 2020, many oil and gas companies in Canada cut back their production and investment plans. One year later the price of oil has increased to pre-crisis levels, and the recovering global economy may support a rebound in global oil demand. This article examines to what extent the industry has recovered from the crisis and the challenges facing the industry, now and in the future.
Release date: 2021-07-28 - Articles and reports: 36-28-0001202100500004Description:
The COVID-19 pandemic has changed how production occurs in the economy in two ways. One is the full or partial closure of non-essential activities such as travel, hospitality, arts and entertainment, personal services, airlines, etc. The other is the widespread shift from in-office work to working from home. This Insights article depicts labour productivity growth in Canada and its sources by industry during the COVID-19 pandemic in order to examine the implications these changes may have had on the productivity performance of the economy.
Release date: 2021-05-26 - Articles and reports: 11F0019M2020008Description:
Multinationals play an important role in the world economy because they are larger, innovate more, are more productive and pay higher wages compared with non-multinationals. Multinationals (i.e., firms that have established affiliates or subsidiaries in other countries) have played an increasingly important role in many economies. In Canada, multinationals accounted for only 0.8% of all enterprises in 2016, but they held 67% of all assets in the Canadian economy (Schaffter and Fortier-Labonté 2019). Given the importance of multinationals to the Canadian economy, it is essential for policy makers to understand the economic performance and productivity advantage of multinationals operating in Canada.
To address policy-relevant research questions, a rich micro dataset covering all industries from 2000 to 2014 has been constructed for this study, using several administrative microdata files at Statistics Canada. This dataset is used to delve deeper into and estimate the productivity advantage of multinationals, including the selection and learning effects associated with multinationality. In addition, this study investigates whether and how research and development (R&D) investment contributes to the superior productivity performance of multinationals.
Release date: 2020-05-26 - Articles and reports: 11F0019M2020001Description:
Multifactor productivity (MFP) declined in Canada from 2000 to 2009 and then recovered after. The movements in productivity since 2000 have attracted great attention from researchers and policy makers because productivity is important both for economic growth and for improvements in living standards. This paper applies the stochastic frontier framework to decompose each firm’s MFP into two parts: its technological frontier and its technical efficiency. Change in the aggregate technological frontier refers to improvements in the productivity potential of an economy, i.e., the maximum productivity of an economy if all firms are fully efficient. Aggregate technical efficiency reflects the economy’s capacity to achieve that potential. The results of this decomposition can show whether the movements in productivity after 2000 in Canada were mainly the result of changes in the technological frontier and productivity potential or of changes in the technical efficiency.
Release date: 2020-01-17 - Articles and reports: 11F0019M2015372Description: This paper presents a growth accounting framework in which subsoil mineral and energy resources are recognized as natural capital input into the production process. It is the first study of its kind in Canada. Firstly, the income attributable to subsoil resources, or resource rent, is estimated as a surplus value after all extraction costs and normal returns on produced capital have been accounted for. The value of a resource reserve is then estimated as the present value of the future resource rents generated from the efficient extraction of the reserve. Lastly, with extraction as the observed service flows of natural capital, multifactor productivity (MFP) growth and the other sources of economic growth can be reassessed by updating the income shares of all inputs, and then, by estimating the contribution to growth coming from changes in the value of natural capital input. This framework is then applied to the Canadian oil and gas extraction sector.Release date: 2015-12-14
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