Canada Economy
As an affluent, high-tech industrial society, Canada today closely resembles the US in its market-oriented economic system,
pattern of production, and high living standards. Since World War II, the impressive growth of the manufacturing, mining,
and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban.
Real rates of growth have averaged nearly 3.0% since 1993. Unemployment is falling and government budget surpluses
are being partially devoted to reducing the large public sector debt. The 1989 US-Canada Free Trade Agreement (FTA)
and 1994 North American Free Trade Agreement (NAFTA) (which included Mexico) have touched off a dramatic increase in
trade and economic integration with the US. With its great natural resources, skilled labour force,
and modern capital plant Canada enjoys solid economic prospects.
Sources: University World and Wikipedia
| Economy of Canada |
| Currency |
Canadian dollar (CAD) |
| Fiscal year |
1 April - 31 March |
| Trade organisations |
NAFTA, OECD, WTO and others |
| Statistics |
| GDP ranking |
13th (2004) |
| GDP |
$1.023 trillion(2004) |
| GDP growth |
2.4% (2004) |
| GDP per capita |
$31,500 (2004) |
| GDP by sector |
agriculture (2.3%), industry (26.4%), services (71.3%) (2004) |
| Inflation |
1.9% (2004) |
| Pop below poverty line |
N/A (2004) |
| Labour force |
17.37 million (2004) |
| Labour force by occupation |
agriculture (3%), manufacturing (15%), construction (5%), services (74%), other (3%)(2000) |
| Unemployment |
6.6% (October 2005) |
| Main industries |
transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas |
| Trading Partners |
| Exports |
$315.6 billion (2004) |
| Export - Commodities |
motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment, chemicals, plastics, fertilizers, wood pulp, timber, crude petroleum, natural gas, electricity, aluminum |
| Main partners |
US 85.2%, Japan 2.1%, UK 1.6% (2004) |
| Imports |
$256.1 billion (2004) |
| Imports - Commodities |
machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods |
| Main Partners |
US 58.9%, China 6.8%, Mexico 3.8% (2004) |
| Public finances |
| Public debt |
$501,493 (millions of dollars 2004) |
| Revenues |
$151 billion (2004) |
| Expenses |
$144 billion (2004) |
| Economic aid |
$2 billion (donor) (2004) |
|
