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Financial and taxation statistics for enterprises
2003
Highlights
- Corporate operating profits surged 10% to $187.5 billion
in 2003, approaching the record level of $191.5 billion set
in 2000.
- All industries, with the exception of air transportation, recorded operating
profits.
- Operating profits of the finance and insurance industries showed impressive
growth after two consecutive years of decline, coming in 26.3% higher
than 2002 and just shy of $50 billion. In the non-financial
industries operating profits grew more modestly, rising 5% to $137.5 billion.
- The solid gain recorded by Canadian manufacturers in 2002 was
short-lived as their operating profits fell 12.4% to $33.2 billion
in 2003. Of 22 manufacturing industries, only seven recorded
growth in operating profits.
- Corporate taxes payable rose 13.8% to $40 billion in 2003.
Income taxes for the finance and insurance industries rose 88.4% to $12.7 billion,
while taxes for the non-financial industries decreased 3.8% to $27.3 billion.
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