Canada's federal debt is approximately $1.45 trillion and climbing by an estimated $1,300 every second — roughly $40 billion a year. That's about $34,900 per citizen. Watch it tick live on our debt clock.
Canada's federal debt is approximately $1.45 trillion — about $34,900 per citizen — and rising by an estimated $1,300 every second, or roughly $40 billion a year. Higher Bank of Canada interest rates make that debt costlier to service, since more of the budget goes to interest.
The Government of Canada's gross debt is in the range of $1.45 trillion. Spread across a population of roughly 41.5 million, that's about $34,900 for every person in the country. These are approximate, illustrative figures — the official numbers are published by the Department of Finance Canada.
The debt rises whenever Ottawa runs an annual deficit — spending more than it collects in revenue. Recent deficits have run in the tens of billions per year, which works out to roughly $1,300 a second when you divide it across the year. Interest on the existing debt is itself one of the largest federal expenses.
The national debt clock tracks federal debt only. On top of that, each province carries its own debt — Ontario alone owes over $400 billion. See how the provinces stack up on our provincial debt page, and how it all ties back to interest rates on the Bank of Canada rate tracker. All debt figures on this site are illustrative estimates, not official statistics.
Approximately $1.45 trillion (federal gross debt), or roughly $34,900 per citizen — illustrative estimates.
At an estimated $1,300 per second, or about $40 billion a year, driven by annual federal deficits.
No — it tracks federal debt only. Provinces carry additional debt on top, such as Ontario's $400B+.