Canadians worth $137,300 each: Statistics Canada
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.