Household consumption expenditure on education in Canada attained a value of $18.4 billion in 2021. It recorded a growth of 7% in 2021 compared to the previous year. Between 2010-2021, the household consumption expenditure on education in Canada increased by 40.8%. The indicator in Canada was highest in the year 2021 and lowest in the year 2010, between 2018 and 2021.
This indicator refers to household consumption expenditure on education. Education includes expenses on educational goods, schools, colleges, and other vocational educational services. Data is primarily sourced from household budget surveys, consumer expenditure, and national accounts datasets, hence there may be definitional or methodological differences between countries.
According to GlobalData, the countries with the highest household consumption expenditure on education in 2020 were the United States, Australia, Germany, Canada, Spain, Mexico, Italy, Colombia, France, and Hong Kong.
Montenegro, Estonia, Iceland, Malta, Lithuania, Bosnia and Herzegovina, Luxembourg, Slovenia, Croatia, and Mongolia are the countries with the lowest household consumption expenditure on education in 2020.
Between 2010 and 2021, Mongolia, Bulgaria, Singapore, Namibia, Austria, Thailand, Iceland, Azerbaijan, Australia, and Hungary were some of the countries with the highest growth in household consumption expenditure on education. Romania, Greece, Italy, the Czech Republic, Portugal, Norway, Ukraine, Estonia, Turkey, and Mexico are the countries with the lowest growth in household consumption expenditure on education.
The expenditure on education as a % of GDP in Canada was 11.4% in 2020, an increase of 10.7% from the previous year. Between 2010-2020, the expenditure on education as a % of GDP in Canada grew by 63.5%. In 2020, Canada spent more than $188 billion on education, with private education expenditure of $40 billion and public education expenditure of $148 billion.
Education plays a crucial role in poverty reduction. Education spending helps in promoting economic growth and boosts the GDP of a country. It aids in reducing infant mortality rate, increases human life expectancy, and reduces drop-out rates from schools and colleges.
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