Economic Overview

Canada vs India: GDP Comparison

Economic Overview

The Gross Domestic Product (GDP) of a country represents the total value of all goods and services produced within its borders. It is a key indicator of economic health and development.

As of 2022, India ranks as the 7th largest economy globally with a GDP of $27 trillion, while Canada ranks 10th with a GDP of $2.3 trillion.

GDP per Capita

GDP per capita is a measure of economic well-being and is calculated by dividing the GDP by the population. It is a more nuanced indicator of living standards than total GDP.

In terms of GDP per capita, Canada ranks significantly higher than India. In 2022, Canada's GDP per capita was approximately $64,000, while India's was around $2,200.

Conclusion

The stark contrast in GDP per capita highlights the vast economic disparity between Canada and India. While India has made significant progress in recent years, its large population and ongoing challenges with poverty and inequality continue to hinder its economic growth. Canada, on the other hand, enjoys a relatively high standard of living and economic stability, providing its citizens with a much higher income per person.