Canada experienced the fastest population growth in the past 66 years in 2023

Canada experienced the fastest population growth in the past 66 years in 2023.

Canada’s statistics center announced on Thursday that the population of Canada reached a record 40.77 million in 2023, mainly due to temporary migration. The country added 12.7 million people to its population in 2023, which is 32% higher than the previous year and the highest growth since 1957.

Extensive migration has led to housing shortages, increased house prices, and reduced purchasing power for the people, all of which are seen as detrimental to the popularity of Canadian Prime Minister Justin Trudeau. According to economists and the Bank of Canada, population growth has also led to a decrease in per capita GDP and productivity levels in the country.

Canada’s statistics center stated in a release that in 2023, the majority (97.6%) of Canada’s population growth is from international migration, including both permanent and temporary migration, while the remaining 2.4% is from births and deaths.

The report added that this was the second consecutive year where temporary migration was the driver of population growth and the third consecutive year witnessing an increase in net non-permanent residents.