Canada vs Mexico
Side-by-side economic and demographic comparison · 2026 data · Source: IMF & World Bank
Canada and Mexico are the United States' two USMCA partners, but their economies are strikingly different. Canada is a high-income economy with GDP per capita roughly four times Mexico's, extensive social safety nets, and universal healthcare. Mexico has a much larger and younger population (130M vs 38M), lower labor costs, and faster GDP growth potential. Both economies are heavily dependent on US trade, but Mexico has surpassed Canada as America's top trading partner. Canada's economy is more resource-driven, while Mexico has become a manufacturing hub, particularly in automotive and aerospace.
Canada has a GDP of $2.51T compared to Mexico's $2.12T, making it 1.2x larger. Canada's population is 41.7M vs Mexico's 131.9M. Across 12 key indicators, both countries are evenly matched in categories. All data sourced from the IMF World Economic Outlook and World Bank World Development Indicators.
| Indicator |  Canada |  Mexico |
|---|---|---|
| GDP (USD) | $2.51T✓ | $2.12T |
| GDP per Capita | $60,305✓ | $15,779 |
| GDP Growth (%) | 1.5% | 1.6%✓ |
| GDP per Capita (PPP) | $70,006✓ | $26,643 |
| Population | 41.7M | 131.9M✓ |
| Life Expectancy | 82.1 years✓ | 75.3 years |
| Inflation (%) | 2.5%✓ | 3.9% |
| Unemployment (%) | 6.5% | 2.7%✓ |
| Govt Debt (% GDP) | 110.7% | 62.7%✓ |
| Fertility Rate | 1.3 | 1.9✓ |
| Gini Index | 31.5✓ | 42.6 |
| CO₂ per Capita (t) | 14 | 3.6✓ |
Summary
Canada has a GDP of $2.51T compared to Mexico's $2.12T, making the former economy 1.2x larger. In terms of population, Canada has 41.7M people while Mexico has 131.9M. Across the 12 indicators compared, Canada leads in 6 and Mexico leads in 6.
Why sources report different numbers
The IMF, World Bank and United Nations each publish these series on their own release schedule. Where their figures differ, the reason is usually visible in the reference year rather than in the methodology.
| Source | Canada | Mexico |
|---|---|---|
| IMF | $2.51T2026 | $2.12T2026 |
| World Bank | $2.32T2025 | $1.83T2025 |
| United Nations | $2.27T2024 | $1.85T2024 |
These are not the same reference year. IMF publishes 2026 and United Nations publishes 2024 — each is the latest that publisher has released, on its own schedule. A figure for a year still in progress is a projection rather than an outturn. Canada spans about 10% across 2 years; Mexico spans about 16% across 1 year.
| Source | Canada | Mexico |
|---|---|---|
| IMF | $60,3052026 | $15,7792026 |
| World Bank | $55,6982025 | $13,8892025 |
| United Nations | $57,1202024 | $14,1582024 |
These are not the same reference year. IMF publishes 2026 and United Nations publishes 2024 — each is the latest that publisher has released, on its own schedule. A figure for a year still in progress is a projection rather than an outturn. Canada spans about 8% across 1 year; Mexico spans about 14% across 1 year.
Figures are reproduced as published by each source, converted to a common unit, with each publisher's own reference year shown. Differences are described, not adjudicated — no source is presented as more correct than another.