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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
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)