Canadian total (household, business, and all levels of government) debt numbers as of the end of March, 2018

The borrowing and spending binge by Canadian households, businesses and governments (all levels) continues unabated. Growing the debt in the economy significantly faster than the economy itself grows seems to have developed into a way of life in Canada.

At the end of March, 2018 the total debt outstanding in Canada (bottom line of the Statistics Canada credit market summary data table) was $7.745 trillion. At the end of March, 2017 the total debt outstanding was $7.34 trillion. In the 1 year period from the end of March, 2017 to the end of March, 2018 it increased by $404.4 billion. This is an increase of 5.5%.

Looking at the total debt outstanding of domestic non-financial sectors in Canada (17th line up from the bottom of the credit market summary data table): At the end of March, 2018 the total debt outstanding of domestic non-financial sectors was $5.427 trillion. At the end of March, 2017 the total debt outstanding of domestic non-financial sectors was $5.115 trillion. In the 1 year period from the end of March, 2017 to the end of March, 2018 it increased by $311.3 billion. This is an increase of 6.1%.

At the end of March, 2018 the annual gross domestic product at market prices in Canada was $2.194 trillion. In the preceding 1 year period it increased by $79.7 billion, an increase of 3.8%.

In the 1 year period from the end of March, 2017 to the end of March, 2018 the total debt outstanding in Canada increased by $404.4 billion. For each $1.00 the economy grew in this 1 year period (using the gdp at market prices metric) the total debt outstanding increased by $5.07.

Looking at just the total debt outstanding of domestic non-financial sectors in Canada: In the 1 year period from the end of March, 2017 to the end of March, 2018 the total debt outstanding of domestic non-financial sectors increased by $311.3 billion. For each $1.00 the economy grew in this 1 year period (using the gdp at market prices metric) the total debt outstanding of domestic non-financial sectors increased by $3.90.

At the end of March, 2018 the total debt outstanding in Canada was 3.5 times greater than the annual gdp at market prices, and looking at just the total debt outstanding of domestic non-financial sectors, that was 2.5 times greater than the annual gdp at market prices.