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September 12, 2022CANADA NATIONAL BALANCE SHEET ACCOUNTS, Q2 2022 
In the second quarter of 2022, growth in Canadian national wealth slowed to 1.7%, rising to $16,771.1 billion. This follows a revised increase of 5.4% in the first quarter of 2022. Residential real estate values contracted for the first time since the last quarter of 2018, while supply constraints and the impacts of Russia's invasion of Ukraine resulted in an expansion of the value of natural resource assets (excluding land).
Total assets, including financial and non-financial assets decreased by 2.6% to $58,176.8 billion at the end of Q2 2022, following an 1.1% increase in Q1 2022.
Household sector
In Q2 2022, Canada’s household sector net worth decreased by 6.1% (almost $1 trillion) to $15,215.3 billion as household financial asset values contracted by 5.7%. This was the largest decline in household net worth on record because of contractions in equity, bond and housing asset valuations.
Household credit market debt as a proportion of household disposable income increased again to 181.66% in Q2 2022.
In Q2 2022, household debt payments fell to 13.63% of disposable income.
Government sector
At the end of Q2 2022, general government net debt (book value) declined again to 41.5% of GDP. The federal government's net debt to GDP ratio decreased to 35.4%. Net debt of other levels of government decreased to 22.3% of GDP.
Corporate sector
The credit market debt to equity ratio of non-financial private corporations rose to 59.45 cents of credit market debt for every dollar of equity in Q2 2022, up from 56.17 cents (revised) in Q1 2022.
Source: Statistics Canada. Table 11-10-0065-01 Debt service indicators of households, national balance sheet accounts; Table 36-10-0580-01 National Balance Sheet Accounts (x 1,000,000); Table 38-10-0235-01 Financial indicators of households and non-profit institutions serving households, national balance sheet accounts; Table 38-10-0236-01 Financial indicators of corporate sector, national balance sheet accounts; Table 38-10-0237-01 Financial indicators of general government sector, national balance sheet accounts; Table 38-10-0238-01 Household sector credit market summary table, seasonally adjusted estimates
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