State of the Sector Report - Toronto and Canada’s Financial Sector

Financial services are a critical component of the Canadian economy. The sector directly accounted for 4.5 per cent of Canadian employment and 7.2 per cent of GDP in 2016 and has been a source of growth for Canada in recent years. This report examines how the financial services sector supports small and medium sized enterprises in Canada. The report also considers the sector's international trade and investment performance. Finally, Toronto's role in Canada's financial services sector is assessed. This includes examining the sector's importance to Toronto's economy, as well as how Toronto compares with other international financial centres.

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