When it comes to population growth, Canada is ahead of the curve. With support from immigration-friendly policy, population growth in the country outpaces all other G7 economies -- and this has been the case for the last two decades.

Still, Canada continues to outdo itself. On Friday the population will hit the 40 million mark for the first time in its history.

READ: Immigration Pushes Canada’s Population Growth Rate to Highest Level Since 1957

This is according to Statistics Canada's Population Clock, which models population growth in real-time based on variables such as recent trends for births, deaths, and migration data. Based on such data, says StatCan, the Canadian population is growing at "a record-setting pace.”

“This is an exciting milestone for Canada,” says Chief Statistician Anil Arora. “It is a strong signal that Canada remains a dynamic and welcoming country, full of potential.”

In 2022, Canada’s population grew by more than one million people, putting the pace of population growth at 2.7%. That latter figure is the highest on record since 1957, when the population grew by 3.3%, aided by a baby boom and a surge in immigration.

Immigration continues to prop up population trends today. In fact, a staggering 96% of growth recorded in 2022 can be chalked up to permanent and temporary migration. If current immigration trends continue -- which is likely -- the Canadian population could reach 50 million by 2043, says StatCan.