Canada’s Record Population Growth in 2023 Driven by Immigration Sparks Economic Concerns

(CTN News) – Statistics Canada reported on Wednesday that Canada’s population will reach a record high of 40.77 million in 2023, owing primarily to temporary immigration. 2023 the country added 1.27 million people, a 3.2% increase over the previous year and the greatest growth rate since 1957.

Immigrants have contributed to a housing shortage, leading to higher costs and lower affordability, negatively impacting Prime Minister Justin Trudeau’s approval rating. Economists and the Bank of Canada have reported that population increase has contributed to lower GDP per capita and productivity levels in the last quarter.

“In 2023, the vast majority (97.6%) of Canada’s population growth came from international migration (both permanent and temporary immigration) and the remaining portion (2.4%) came from natural increase,” Statistics Canada said in a release.

According to the report, “This was the second straight year that temporary immigration drove population growth and the third year in a row with a net increase of NPRs (non-permanent residents).”

According to the IMF’s 2021 study, Canada has relied extensively on immigration to enhance its labor force and economic growth, with non-native-born Canadian residents accounting for about a quarter of the population in 2021.

This is the highest rank among the G7 nations. In recent months, Trudeau’s Liberal government has implemented measures to limit the number of overseas students and non-permanent residents allowed in Canada annually.

According to Statscan data, there were an estimated 2,661,784 non-permanent residents in Canada on January 1, 2024. Among them, 2,332,886 were permit holders and their family members living with them, while 328,898 were asylum seekers with or without employment or study permits.