Stock and consumption of fixed capital, 2023
Released: 2024-11-14
Net capital stock totalled $7.4 trillion in 2023, consisting of $3.4 trillion in non-residential assets, such as machinery and engineering structures, and $4.0 trillion in residential structures. The net capital stock declined 0.2 percentage points in 2023, mainly due to a deceleration in residential investment. The growth of non-residential capital stock was concentrated in the education services, professional, scientific and technical services, and transportation and warehousing sectors.
Expressed in volume terms, Canada's capital stock increased 1.6% in 2023, a slower rise than in 2022. Most provinces and territories recorded increased capital stocks in 2023, with the exception of Newfoundland and Labrador (-0.1%) and the Northwest Territories (-2.5%), where the total capital stock decreased in volume terms.
Map 1
Total capital stock in 2023 (growth in percentage)
Slowdown in residential construction
Although residential capital stock increased in all provinces and territories in 2023, its growth in the year (+2.1%) was slower compared to 2022 (+2.6%). The slowdown in residential capital stock was the result of lower investment in new construction, renovations to existing structures, as well as ownership transfer costs. This coincided with the deterioration of credit conditions and the rise in mortgage interest rates.
Excluding British Columbia and the Northwest Territories, the growth in residential capital stock was lower than population growth in all provinces and territories in 2023.
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Note to readers
This release reflects revised estimates of investment flows and prices in accordance with the latest revision of the Canadian System of Macroeconomic Accounts.
The classification of non-residential capital stock is based on the final demand classification used in the Supply and Use Tables.
Estimates of non-residential and residential investment, depreciation and the associated net stocks are available by geographical breakdown on a current price basis, 2017 constant price basis (2017 asset price = 100) and chained (2017) dollar basis. Non-residential estimates of depreciation and stock are available by industry and by asset, using linear, geometric, and hyperbolic methods. Residential estimates are available by type of investment using geometric methods.
Products
The data visualization product "Overview of the stock and consumption of fixed capital program: Interactive tool," which is part of Statistics Canada – Data Visualization Products (71-607-X), is now available.
The data visualization product "Infrastructure Statistics Hub," which is part of Statistics Canada – Data Visualization Products (71-607-X), is also available.
The Latest Developments in the Canadian Economic Accounts (13-605-X) is available.
The User Guide: Canadian System of Macroeconomic Accounts (13-606-G) is also available.
The Methodological Guide: Canadian System of Macroeconomic Accounts (13-607-X) is also available.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
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