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Canada:
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Other pages in this profile of Canada:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
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Economy - overview |
Definition As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent 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. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US. Given its great natural resources, skilled labor force, and modern capital plant, Canada enjoys solid economic prospects. Top-notch fiscal management has produced consecutive balanced budgets since 1997, although public debate continues over the equitable distribution of federal funds to the Canadian provinces. Exports account for roughly a third of GDP. Canada enjoys a substantial trade surplus with its principal trading partner, the US, which absorbs 80% of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. During 2007, Canada enjoyed good economic growth, moderate inflation, and the lowest unemployment rate in more than three decades. |
GDP (purchasing power parity) |
Definition - World rank and map $1.266 trillion (2007 est.) |
GDP (official exchange rate) |
Definition $1.432 trillion (2007 est.) |
GDP - real growth rate |
Definition - World rank and map 2.7% (2007 est.) |
GDP - per capita |
Definition - World rank and map $38,400 (2007 est.) |
GDP - composition by sector |
Definition agriculture: 2.1% industry: 28.8% services: 69.1% (2007 est.) |
Labor force |
Definition 17.95 million (2007 est.) |
Labor force - by occupation |
Definition agriculture 2%, manufacturing 13%, construction 6%, services 76%, other 3% (2006) |
Unemployment rate |
Definition - World rank and map 6% (2007 est.) |
Population below poverty line |
Definition 10.8%; note - this figure is the Low Income Cut-Off (LICO), a calculation that results in higher figures than found in many comparable economies; Canada does not have an official poverty line (2005) |
Household income or consumption by percentage share |
Definition lowest 10%: 2.6% highest 10%: 24.8% (2000) |
Distribution of family income - Gini index |
Definition - World rank and map 32.1 (2005) |
Inflation rate (consumer prices) |
Definition - World rank and map 2.1% (2007 est.) |
Investment (gross fixed) |
Definition - World rank and map 22.8% of GDP (2007 est.) |
Budget |
Definition revenues: $569.3 billion expenditures: $555.2 billion (2007 est.) |
Public debt |
Definition - World rank and map 68.5% of GDP (2007 est.) |
Agriculture - products |
Definition wheat, barley, oilseed, tobacco, fruits, vegetables; dairy products; forest products; fish |
Industries |
Definition transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas |
Industrial production growth rate |
Definition - World rank and map 0.3% (2007 est.) |
Electricity - production |
Definition - World rank and map 609.6 billion kWh (2005) |
Electricity - consumption |
Definition - World rank and map 540.2 billion kWh (2005) |
Electricity - consumption per capita |
Definition - World rank and map 16,264.9 kWh (2005) |
Electricity - exports |
Definition 42.93 billion kWh (2005) |
Electricity - imports |
Definition 19.33 billion kWh (2005) |
Oil - production |
Definition - World rank and map 3.092 million bbl/day (2005) |
Oil - consumption |
Definition - World rank and map 2.29 million bbl/day (2005) |
Oil - consumption per 1,000 people |
Definition - World rank and map 68.9 bbl/day (2005) |
Oil - exports |
Definition - World rank and map 2.274 million bbl/day (2004) |
Oil - imports |
Definition - World rank and map 1.185 million bbl/day (2004) |
Oil - proved reserves |
Definition - World rank and map 178.8 billion bbl note: includes oil sands (1 January 2006 est.) |
Natural gas - production |
Definition - World rank and map 178.2 billion cu m (2005 est.) |
Natural gas - consumption |
Definition - World rank and map 92.76 billion cu m (2005 est.) |
Natural gas - consumption per capita |
Definition - World rank and map 2,793 cu m (2005 est.) |
Natural gas - exports |
Definition - World rank and map 101.9 billion cu m (2005 est.) |
Natural gas - imports |
Definition - World rank and map 9.403 billion cu m (2005) |
Natural gas - proved reserves |
Definition - World rank and map 1.537 trillion cu m (1 January 2006 est.) |
Current account balance |
Definition - World rank and map $13.26 billion (2007 est.) |
Exports |
Definition - World rank and map $433.1 billion f.o.b. (2007 est.) |
Exports - commodities |
Definition motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum |
Exports - partners |
Definition US 79%, UK 2.8%, China 2.1% (2006) |
Imports |
Definition - World rank and map $386.9 billion f.o.b. (2007 est.) |
Imports - commodities |
Definition machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods |
Imports - partners |
Definition US 55.1%, China 9.4%, Mexico 4.2% (2006) |
Reserves of foreign exchange and gold |
Definition - World rank and map $39.31 billion (2007 est.) |
Debt - external |
Definition - World rank and map $758.6 billion (30 June 2007) |
Stock of direct foreign investment - at home |
Definition $527.4 billion (2007 est.) |
Stock of direct foreign investment - abroad |
Definition $514.7 billion (2007 est.) |
Market value of publicly traded shares |
Definition $1.481 trillion (2005) |
Economic aid - donor |
Definition ODA, $3.9 billion (2007) |
Currency (code) |
Definition Canadian dollar (CAD) |
Exchange rates |
Definition Canadian dollars per US dollar - 1.0724 (2007), 1.1334 (2006), 1.2118 (2005), 1.301 (2004), 1.4011 (2003) |
Fiscal year |
Definition 1 April - 31 March |
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