Canada Records Fastest Population Growth in 66 Years in 2023

The Canadian Statistics Agency reported on Wednesday that "the population reached a record level of 40.77 million in 2023, largely driven by temporary immigration." The statement noted that "the vast majority (97.6 percent) of the population increase in Canada in 2023 came from international immigration (permanent and temporary), with the remaining portion (2.4 percent) coming from natural increase." It added, "This was the second consecutive year that temporary immigration contributed to population growth and the third consecutive year with a net increase in the number of non-permanent residents." The population increased by 1.27 million in 2023, a growth of 3.2 percent compared to the previous year, marking the highest population growth since 1957. The influx of immigrants has led to a housing problem, resulting in rising home prices, which has harmed the popularity of Prime Minister Justin Trudeau. Economists and the Bank of Canada indicated that population growth has also reduced the per capita GDP of the country, as evidenced in the last quarter. Canada has heavily relied on immigration to bolster its workforce and economic growth, as nearly a quarter of its population in 2021 consisted of non-native residents born in the country, according to a 2021 International Monetary Fund report. This is the highest level among G7 countries. However, Trudeau's Liberal government has sought in recent months to address pressures by implementing measures that limit the number of international students and non-permanent residents who can come to Canada each year.