The Numbers Don’t Lie
The Exodus in One Table
| Period | Net Capital Outflow (CAD billion) |
Main Driver |
|---|---|---|
| February 2025 | −33.6 | Record one-month flight |
| Feb–May 2025 (cumulative) | −83.9 | Canadians buying U.S. equities + foreign sell-off |
| May 2025 | −16.2 | $13.4B Canadian purchases abroad |
| Q2 2025 | −43.7 | Fastest quarterly outflow since 2008 |
2025 Capital Outflows – Interactive Chart
Canada’s Net Investment Position Abroad (2009 → 2025)
Key Takeaways
- Canadians now own $811 billion more in foreign assets than foreigners own here.
- 2025 outflows already exceed post-2008 levels.
- Triggers: U.S. tariff threats, capital-gains tax hike, regulatory friction.
- Talent exodus running parallel — record skilled emigration.
Brookfield Asset Management’s 2025 New York HQ move is just one visible symptom of a much broader trend.
Article proposed by Mack McColl, Analysis by Grok (xAI) dated December 3, 2025, Edited slightly and produced for McColl Magazine
