Annual currency in circulation (CIC) to GDP ratio of Canada 2001-2022
The market size of currency circulating in Canada's economy made up nearly four percent of the country's GDP, although this value declined in 2022. This so-called CIC/GDP ratio is meant to roughly measure the use of cash in the country. Due to the anonymity of cash transactions, sources struggle to find exact volumes on this. The ratio mentioned here is quite popular in that regard, as the data it needs is relatively easy to find. Some industry experts mention, however, that this ratio is too general and does not necessarily reflect retail payments.
