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Canada records highest economic growth rate among G7 countries

economic growth

Canada recorded highest economic growth rate among G7 countries despite the pandemic during the period between 2016 and 2021, revealed a study conducted by Statistics Canada. The study has attributed this growth to the immigrants from around the world who have been arriving in Canada to start a new life. Canada has been remaining the country with the fastest economic growth among the G7 countries during the past five years.
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High immigration levels and demographic growth

During the pandemic period, Canada also witnessed progress in terms of demographics. Canada emerged as the country with the highest pace of population growth among G7 nations during the pandemic period. More importantly, the population growth in the Maritime Provinces of the country was faster compared to Prairie Provinces, for the first time since 1940s. Two major reasons for this were the rising immigration levels and more Canadians emigrating to these provinces from other parts of the country. Prince Edward Island experienced the fastest population growth during the period between 2016 and 2021 as per the study.

Canada’s high population growth rate is attributed to immigration, as the natural birth rate still remains low in the country. It should be noted that Canada has been consistently increasing immigration targets since 2015. In all provinces and territories of Canada, immigration remains to be the main driver of population growth. Prince Edward Island and British Columbia recorded the highest population growth rate among the provinces. During the period between 2016 and 2021, the population in Canada increased by 1.8 million. Nearly four-fifth of this can be attributed to new arrivals to Canada. In Ontario, population grew at a faster pace than the country’s overall population growth rate. The population of Quebec also grew at a faster pace.

Canada needs immigrants

The study results prove why immigration is important for Canada. Canada needs more immigrants to sustain a healthy rate of population growth and ensure adequate supply of labour for maintaining a fast pace in terms of economic growth.

So, if you are qualified, there is a good chance for you to receive an invitation from Canada to apply for permanent residence in Canada. Do you want to know how? Talk to the Canada immigration experts of CanApprove. Contact us to know more.

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