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Economy of Toronto

Toronto's Financial District from the northeast at the Pantages Tower. The district is the city's central business district.

The economy of Toronto is the largest contributor to the Canadian economy, at 20% of the national GDP, and an important economic hub of the world.[1] Toronto is a commercial, distribution, financial and industrial centre. It is Canada's banking and stock exchange centre and is the country's primary wholesale and distribution point. Ontario's wealth of raw materials and hydroelectric power have made Toronto a primary centre of industry. The metropolitan area of Greater Toronto produces more than half of Canada's manufactured goods. The economy of Toronto has had a GDP growth rate of 2.4 percent annually since 2009, outpacing the national average.[2] Toronto's population was 3.025 million people as of 2022, while the population of the Toronto census metropolitan area was 6.47 million during the same year.[3]

  1. ^ Invest Toronto. "Invest Toronto 2014: Annual Report" (PDF). Invest Toronto. Invest Toronto. Retrieved 2016-03-05.
  2. ^ "Gross domestic product (GDP) at basic prices, by census metropolitan area (CMA) (x 1,000,000)". Statistics Canada.
  3. ^ "Toronto at a Glance". City of Toronto. 2017-11-14. Retrieved 2023-08-05.

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