The latest edition of the World Economic League Table places Canada as the world’s 10th-largest economy based on its GDP of US$1.731 trillion (CAD$2.251 trillion) in 2019.
The U.K.-based Centre for Economics and Business Research, which publishes the annual table, predicted years ago that Canada would drop out of the top 10, but did not foresee its return.
In fact, as of 2016, the centre was expecting Canada’s economy to continue to slip down the ranking. Its newest projection, released Dec. 26, paints a different picture, with Canada’s economy projected to rise to the ninth-largest in the world by 2024 and No. 8 by 2029.
The centre says population growth brought on by immigration has contributed to Canada’s economic strength.