Canada, U.S. GDP: For First Time On Record, Canadians May Be Wealthier Than Americans
This year, for the first time on record, Canadians may have exceeded their American neighbours in wealth.
According to estimates from the IMF, flagged by Kevin Carmichael at the Globe and Mail, Canada’s gross domestic product per person is on track to be $51,147 per person in Canada, compared to $48,147 in the United States.
\It’s a reflection of the persistent weakness of the U.S. economy since the financial crisis began in 2008, and the relative strength of Canada’s economy, which has benefited from high commodity prices and surging demand in developing countries.
And according to available data, it may be the first time in history that Canadians have been richer than their brethren south of the border.
Historical data shows the U.S.’s per capita GDP in 1900 was $4,096 in constant U.S. dollars, while Canada’s was $2,758. In 1950, the U.S. was at $9,753, while Canada was at $7,047. By 1973, the U.S. led Canada $16,607 to $13,644.
Sorry maybe the Canadians hate our freedom as we continue our war on reality. Reality has a liberal bias.