Canada's services, value added (current LCU) was 1.84 trillion in 2022, the latest year in the World Bank's World Development Indicators. That is up 55.01% from 1.18 trillion in 2012 (4.48% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 1.84 trillion | 2022 |
| Five years earlier | 1.43 trillion | 2017 |
| Ten years earlier | 1.18 trillion | 2012 |
| Highest | 1.84 trillion | 2022 |
| Lowest | 567.3 billion | 1997 |
| Average since 2013 | 1.47 trillion | 2013–2022 |
| First recorded | 567.3 billion |
What the numbers say
In 2022, Canada's services, value added (current LCU) rose 9.5% on 2021 (from 1.68 trillion to 1.84 trillion).
Across the 24 yearly changes before that (1998 to 2021), the average change was +4.6% and a typical year strayed about 2% from that (the standard deviation). This year's change was 2.5 standard deviations above that average, so it was unusually large compared with the rest of the record.
On record, the biggest yearly rise was 9.5% in 2022 and the biggest yearly fall was 1.3% in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2013 to 2022 the straight-line trend is upward, about 59.55 billion a year. A straight line explains 94% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
A straight-line projection, tested first
Extending that straight line gives about 1.9 trillion for 2025. We show this only because the same method, fitted on earlier years, predicted 2020 to 2022 better than "no change" would have: its average miss was 79.81 billion, against 138.69 billion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.
See how a linear trend forecast works and the guide on forecasting without fooling yourself.
Closest to Canada in the 2022 ranking
- Syrian Arab Republic — 1st of 2: 39.81 trillion
What this measures
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
All 26 values
| Year | Services, value added (current LCU) |
|---|---|
| 2022 | 1,836,232,000,000 |
| 2021 | 1,676,523,000,000 |
| 2020 | 1,538,231,000,000 |
| 2019 | 1,558,460,000,000 |
| 2018 | 1,487,779,000,000 |
| 2017 | 1,429,928,000,000 |
| 2016 | 1,370,072,000,000 |
| 2015 | 1,326,908,000,000 |
| 2014 | 1,288,154,000,000 |
| 2013 | 1,233,239,000,000 |
Services, value added (current LCU) in nearby economies
- Bermuda — 8.4 billion (2024)
- United States — 18.09 trillion (2021)
More economic policy & debt data for Canada
- Trade in services (% of GDP) — 14.75% (2025)
- Communications, computer, etc. (% of service imports, BoP) — 48.08% (2025)
- Primary income payments (BoP, current US$) — US$196.83 billion (2025)
- Imports of goods and services (current US$, BoP) — US$747.73 billion (2025)
- Goods imports (current US$, BoP) — US$577.62 billion (2025)
- Service imports (current US$, BoP) — US$170.11 billion (2025)
- Imports of goods, services and primary income (current US$, BoP) — US$944.56 billion (2025)
- Transport services (% of service imports, BoP) — 16.84% (2025)
- Travel services (% of service imports, BoP) — 25.55% (2025)
Reading data like this
Questions people ask
- What is Canada's services, value added (current LCU)?
- 1.84 trillion in 2022, according to the World Bank (World Development Indicators).
- How has it changed since 1997?
- It is up 223.68% from 567.3 billion in 1997 (4.81% a year on average, compounded). The highest value was 1.84 trillion in 2022 and the lowest 567.3 billion in 1997.
- Is the latest change in services, value added (current LCU) unusual for Canada?
Source
World Bank, World Development Indicators, indicator NV.SRV.TOTL.CN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.
Legal entity
Devansh Yadav
Moradabad, Uttar Pradesh
Governing law: Courts at Moradabad, Uttar Pradesh
Phone: +91 8433475698
Legal: legal@analyzeit.in