Story Tools: E-MAIL | PRINT | Text Size: S M L XL | REPORT TYPO | SEND YOUR FEEDBACK

Canadians worth $137,300 each: Statistics Canada

Last Updated: Friday, March 17, 2006 | 12:03 PM ET

Canada's national net worth reached $4.5 trillion by the end of 2005, or roughly $137,300 per person, Statistics Canada said Friday.

The country's net worth grew by 1.4 per cent, or $60.4 billion, over the last three months of 2005, up sharply from 0.7 per cent in the third quarter, when growth was constrained by an increase in net foreign debt.

The national net worth is the total of the non-financial assets, such as produced assets, land surrounding structures and agricultural land, less foreign-held debt.

Household net worth grew by 1.4 per cent, down from 2.4 per cent in the third quarter, due to slower increases in both residential real estate and equities.

At the same time, Canadians' appetite for debt eased on lower demand for consumer credit and mortgages. The ratio of household debt to net worth remained flat at 18.1 per cent in the quarter.

Growth in total household debt slightly outpaced that of personal disposable income, as Canadian households currently carry about $1.08 in debt for every dollar of their disposable income.

More Money Headlines »

Another volatile day on North American markets Video: Louise Martin reports for CBC-TV
Nervous investors bailed out of stocks in Toronto and New York in early trading Thursday, prompting some bargain hunting that pared overall market losses.
Severance charges weigh on BMO's Q1 profit
A $135-million restructuring charge to cover severance payments for 1,000 job cuts pulled first-quarter earnings at Bank of Montreal lower.
Last day for RRSP contributions
Financial institutions are expecting a busy day Thursday as a midnight deadline looms to make RRSP contributions for the 2006 tax year.
CIBC Q1 earnings up almost 33 per cent
The Canadian Imperial Bank of Commerce said higher earnings at both its retail operations and its wealth management businesses helped it post a 32.8 per cent increase in its bottom line.
Nortel announces another restatement
Nortel Networks Corp. said Thursday it will have to make more financial restatements, and will delay filing its 2006 annual report with U.S. regulators.
Story Tools: E-MAIL | PRINT | Text Size: S M L XL | REPORT TYPO | SEND YOUR FEEDBACK

World »

U.S. charges Australian with terror: report
An Australian citizen has become the first Guantanamo Bay detainee to be charged with terrorism by the Pentagon under new rules for military tribunals.
Taliban commander warns of suicide bomber army
"Hundreds more" suicide bombers are poised to strike against NATO forces in Afghanistan in a massive spring offensive, a senior Taliban commander said.
North Korea willing to abandon nuclear weapons: senior official
North Korea said Thursday it was willing to give up its nuclear weapons program as part of the process of ending nearly 60 years of tensions on the Korean peninsula.
more »

Canada »

Ottawa 'discriminates' in same-sex pension payments: court Video: Krista Erickson reports for CBC-TV
The Supreme Court has ruled that denying CPP benefits to some surviving partners of same-sex relationships is discriminatory and unconstitutional under the charter.
Political 'prop' accusation worst insult ever, Hillier says
Canada's top soldier is slamming back at a Liberal MP who called him a political "prop," saying he considers it a worse insult than being shot at or targeted by suicide bombers.
Freight train derails east of Toronto Video: Christine Birak reports for CBC-TV
A CN Rail freight train has derailed east of Toronto, threatening to disrupt the afternoon rush-hour commute.
more »

Health »

Health experts place bets on bird flu pandemic
Health experts have launched a new "futures market" aimed at predicting when a potential bird flu pandemic will hit.
Hospital director not told about C. difficile outbreak
The director of Quebec's Honoré-Mercier Hospital wasn't told about a C. difficile outbreak until after the bacteria killed more than 10 people.
Indonesia, WHO to end bird flu dispute
Indonesia is expected to resume supplying samples of bird flu virus to the World Health Organization, the health minister said Thursday.
more »

Arts & Entertainment»

Austen bests Tolkien in U.K. survey of favourite books
Jane Austen's Pride and Prejudice, often considered the beloved author's most popular work, has snared the top spot in a British list of books 'the nation can't live without.'
Toronto's AGO sets date for temporary closing
The Art Gallery of Ontario in Toronto has set a date for its temporary closing later this year.
Canada Reads heads into Friday with three books
The Canada Reads series to determine a single book to be read by all Canadians is now down to three books.
more »

Technology & Science »

Europe plans greater role in space exploration
European Space Agency science director David Southwood is laying the groundwork for an expanded space exploration program.
Robot sub tests bode well for Jupiter moon exploration
U.S. scientists plan to use a self-guided robot submarine to probe the world's deepest sinkhole after "impressive" tests in Mexico in February.
YouTube expelled from Australian state's schools
An Australian state has banned video website YouTube from its government-run schools in an effort to stamp out cyber-bullying, a minister said Thursday.
more »

Money »

Another volatile day on North American markets Video: Louise Martin reports for CBC-TV
Nervous investors bailed out of stocks in Toronto and New York in early trading Thursday, prompting some bargain hunting that pared overall market losses.
Severance charges weigh on BMO's Q1 profit
A $135-million restructuring charge to cover severance payments for 1,000 job cuts pulled first-quarter earnings at Bank of Montreal lower.
Last day for RRSP contributions
Financial institutions are expecting a busy day Thursday as a midnight deadline looms to make RRSP contributions for the 2006 tax year.
more »

Consumer Life »

UN online game delivers serious message
The UN is using a downloadable game to teach children how to deal with natural disasters like floods, fires and earthquakes.
Employees key to trust in business, survey suggests
Businesses should treat employees better if they want to keep the public's trust, a survey of corporate "opinion leaders" says.
Lenovo recalls ThinkPad battery packs
Lenovo is recalling as many as 205,000 ThinkPad notebook PC battery packs because they could catch fire in certain circumstances.
more »

Sports »

Scores: NHL NBA

Oilers fight on without Smyth
The Edmonton Oilers will play their second game without Ryan Smyth on Thursday night when they host the Minnesota Wild (7:00 p.m. MT).
Zetterberg out 2 to 3 weeks with back injury
Detroit Red Wings forward Henrik Zetterberg is expected to be sidelined for two to three weeks with an inflamed disc in his back.
NHL to open next season in England
The Anaheim Ducks and Los Angeles Kings will begin the NHL's 2007-08 regular season in London, England, the league announced Thursday.
more »