{
  "id": "gdp-greater-victoria",
  "category": "Economy",
  "title": "Size of Greater Victoria’s economy (GDP, current dollars)",
  "geography": "Victoria census metropolitan area (Greater Victoria)",
  "scope": "region",
  "levels": [
    "Market and economy-wide factors"
  ],
  "plain_question": "What was the total value of goods and services produced in Greater Victoria in the year?",
  "value": 27024.0,
  "display_value": "$27.0B",
  "unit": "GDP at basic prices, 2022",
  "period": "Calendar year 2022",
  "period_start": "2022-01-01",
  "period_end": "2022-12-31",
  "comparison": {
    "previous_period": "Calendar year 2021",
    "previous_value": 24285.0,
    "change_percent": 11.3
  },
  "trend": "context",
  "direction_good": "up",
  "right_direction": "Shown for context, without a better or worse label: these are current dollars, so the change mixes growth with price increases.",
  "trend_basis": "$27,024 million in 2022 against $24,285 million in 2021 (+11.3%, current dollars). B.C.: +12.5%.",
  "since_text": "B.C. GDP +12.5% in 2022 (current dollars). The latest year is 2022.",
  "caveats": [
    "Gross domestic product at basic prices in current dollars, as Statistics Canada estimates it for metropolitan areas. No inflation-adjusted series is published for Greater Victoria, so part of each year’s change is higher prices.",
    "The latest year is 2022: these estimates come out about three years after the year, so they say little about today.",
    "GDP counts the value of production, not how it is shared or how people are doing."
  ],
  "charts": [
    {
      "title": "GDP, Greater Victoria (millions of current dollars)",
      "fmt": "int",
      "unit": "million dollars",
      "lines": [
        {
          "name": "Greater Victoria",
          "area": "cma",
          "series": [
            {
              "period": "2009",
              "value": 16067.0
            },
            {
              "period": "2010",
              "value": 16216.0
            },
            {
              "period": "2011",
              "value": 16364.0
            },
            {
              "period": "2012",
              "value": 17196.0
            },
            {
              "period": "2013",
              "value": 17400.0
            },
            {
              "period": "2014",
              "value": 18076.0
            },
            {
              "period": "2015",
              "value": 18981.0
            },
            {
              "period": "2016",
              "value": 19656.0
            },
            {
              "period": "2017",
              "value": 20464.0
            },
            {
              "period": "2018",
              "value": 21509.0
            },
            {
              "period": "2019",
              "value": 22758.0
            },
            {
              "period": "2020",
              "value": 22517.0
            },
            {
              "period": "2021",
              "value": 24285.0
            },
            {
              "period": "2022",
              "value": 27024.0
            }
          ]
        }
      ]
    }
  ],
  "series": [
    {
      "period": "2009",
      "value": 16067.0
    },
    {
      "period": "2010",
      "value": 16216.0
    },
    {
      "period": "2011",
      "value": 16364.0
    },
    {
      "period": "2012",
      "value": 17196.0
    },
    {
      "period": "2013",
      "value": 17400.0
    },
    {
      "period": "2014",
      "value": 18076.0
    },
    {
      "period": "2015",
      "value": 18981.0
    },
    {
      "period": "2016",
      "value": 19656.0
    },
    {
      "period": "2017",
      "value": 20464.0
    },
    {
      "period": "2018",
      "value": 21509.0
    },
    {
      "period": "2019",
      "value": 22758.0
    },
    {
      "period": "2020",
      "value": 22517.0
    },
    {
      "period": "2021",
      "value": 24285.0
    },
    {
      "period": "2022",
      "value": 27024.0
    }
  ],
  "refresh_frequency": "Annually (December)",
  "data_published": "2025-12-04",
  "source": {
    "name": "Statistics Canada, GDP at basic prices by census metropolitan area, table 36-10-0468-01",
    "url": "https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610046801",
    "dataset_url": "https://open.canada.ca/data/en/dataset/5374c3f3-9bd7-4c1f-9655-c3cc7f041109",
    "table_url": "https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610046801",
    "table": "36-10-0468-01",
    "publisher_page": "https://www.statcan.gc.ca/en/subjects-start/economic_accounts",
    "locator": "Table 36-10-0468-01: Victoria, British Columbia; 2022",
    "reads": "2022: $27,024 million; 2021: $24,285 million"
  },
  "licence": {
    "name": "Open Government Licence - Canada",
    "url": "https://open.canada.ca/en/open-government-licence-canada"
  },
  "attribution": "Adapted from Statistics Canada, table 36-10-0468-01. This does not constitute an endorsement by Statistics Canada of this product.",
  "retrieved_at": "2026-11-13T05:22:27Z",
  "licence_type": "open",
  "source_tier": 1,
  "measure_kind": "context",
  "better_measure": null,
  "status_rule": {
    "rule": "One rule for every measure: a change smaller than 5% of the earlier value, or smaller than the agency's own margin of error, is “About the same”; no change is calculated across a marked break in a series; homelessness estimates, prices, staffing and comparison pages are shown for context without a label.",
    "reason": "Current dollars mix real growth with price increases, so the change is shown for context.",
    "threshold_percent": 5.0
  },
  "changes": {
    "year": {
      "period": "Calendar year 2021",
      "value": 24285.0,
      "text": "vs 2021: +11.3%"
    },
    "five_year": {
      "period": "2017",
      "years": 5,
      "value": 20464.0,
      "comparable": true,
      "text": "vs 2017: +32.1%"
    }
  },
  "direction": {
    "type": "context",
    "rule": "Outcome measures read Better, Worse or About the same; published government targets read Ahead of, On or Behind target; value-judgement measures read Rising, Falling or Steady in a neutral colour. A change smaller than the agency's own margin of error, or otherwise smaller than 5% of the earlier value, is About the same (or Steady). No change is calculated across a marked break in a series.",
    "key": "rising",
    "label": "Rising",
    "arrow": "▲",
    "rel": 11.3,
    "delta": null,
    "vs": "Calendar year 2021",
    "cur": "Calendar year 2022",
    "why": "Current dollars mix real growth with price increases, so the change is shown for context. The change is 11.3% of the earlier value, at or above the 5% threshold.",
    "change": "11%",
    "one_year": "+11.3%",
    "five": {
      "period": "2017",
      "comparable": true,
      "rel": 32.056293979671615,
      "text": "+32.1%",
      "years": 5
    }
  },
  "benchmark": {
    "rung": 4,
    "rung_name": "Context measure: no target expected",
    "as_of": "2026-11-12",
    "items": [
      {
        "kind": "context",
        "label": "Context measure: no target expected",
        "area": null,
        "source": null,
        "documents_checked": null,
        "text": "Context measure: no target expected. Governments forecast the size of the economy; they do not set a target for it here."
      }
    ],
    "drawn": [],
    "rule": "Highest rung found is shown; the site never sets a target. Methods, Targets."
  },
  "no_target_expected": "Governments forecast the size of the economy; they do not set a target for it here.",
  "benchmarks": [],
  "highest_rung": null,
  "decided_by": [
    {
      "body": "NONE",
      "name": "No government decides this directly",
      "note": "Businesses, workers and households produce it."
    },
    {
      "body": "BOC",
      "name": "Bank of Canada",
      "decides": "Sets and publishes the minimum rate at which it lends, as part of its job to regulate credit and currency.",
      "laws": [
        {
          "key": "boc21",
          "label": "Bank of Canada Act, s. 21",
          "url": "https://laws-lois.justice.gc.ca/eng/acts/B-2/FullText.html"
        },
        {
          "key": "boc",
          "label": "Bank of Canada Act, preamble",
          "url": "https://laws-lois.justice.gc.ca/eng/acts/B-2/FullText.html"
        }
      ],
      "last": {
        "text": "Rate set at 2.50% on October 28, 2026",
        "label": "Rate set at 2.50% on October 28, 2026",
        "url": "https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/"
      },
      "next": {
        "text": "Next scheduled announcement December 9, 2026",
        "label": "Next scheduled announcement December 9, 2026",
        "url": "https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/"
      }
    }
  ],
  "main_decision_maker": "No government decides this directly",
  "label_1y": {
    "key": "rising",
    "label": "Rising"
  },
  "label_long": {
    "key": "rising",
    "label": "Rising",
    "years": 5,
    "change": "+32.1%"
  },
  "target_line": {
    "form": 7,
    "text": "No target expected",
    "target": null,
    "gap": null,
    "comparison": null,
    "applies_here": false,
    "note": "Governments forecast the size of the economy; they do not set a target for it here."
  }
}