Following two consecutive yearly increases (+65% in 2022 and +152% in 2021), lower energy and mineral prices combined drove down the value of Canada's natural resource assets by 33% in 2023.
Canada's natural resource wealth—the dollar value of selected natural resource reserves—totalled $1,711 billion in 2023, after reaching an all-time high of $2,556 billion in 2022. Despite this decrease, the value in 2023 was the second-highest resource wealth recorded since the start of the current data series in 1961.
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