Canada

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Introduction - Canada:
Location - Canada:
People - Canada:
Government - Canada:
Economy - Canada:

Economy overview

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 how to manage the rising cost of the publicly funded healthcare system. Exports account for roughly a third of GDP. Canada enjoys a substantial trade surplus with its principal trading partner, the US, which absorbs about 85% of Canadian exports. Canada is the US largest foreign supplier of energy, including oil, gas, uranium, and electric power.

Gdp purchasing power parity

$1.178 trillion (2006 est.)

Gdp official exchange rate

$1.088 trillion (2006 est.)

Gdp real growth rate

2.7% (2006 est.)

Gdp per capita ppp

$35,600 (2006 est.)

Gdp composition by sector

agriculture: 2.3%
industry: 29.2%
services: 68.5% (2006 est.)

Labor force

17.59 million (2006 est.)

Labor force by occupation

agriculture 2%, manufacturing 14%, construction 5%, services 75%, other 3% (2004)

Unemployment rate

6.4% (2006 est.)

Population below poverty line

15.9%; 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 (2003)

Household income or consumption by percentage share

lowest 10%: 2.8%
highest 10%: 23.8% (1994)

Distribution of family income gini index

33.1 (1998)

Inflation rate consumer prices

2% (2006 est.)

Investment gross fixed

21.3% of GDP (2006 est.)

Budget

revenues: $183.5 billion
expenditures: $181.8 billion; including capital expenditures of $NA (2005 est.)

Public debt

65.4% of GDP (2006 est.)

Agriculture products

wheat, barley, oilseed, tobacco, fruits, vegetables; dairy products; forest products; fish

Industries

transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas

Industrial production growth rate

0.7% (2006 est.)

Electricity production

573 billion kWh (2004)

Electricity consumption

522.4 billion kWh (2004)

Electricity exports

33.01 billion kWh (2004)

Electricity imports

22.48 billion kWh (2004)

Oil production

3.135 million bbl/day (2004)

Oil consumption

2.294 million bbl/day (2004)

Oil exports

2.274 million bbl/day (2004)

Oil imports

1.185 million bbl/day (2004)

Oil proved reserves

178.8 billion bbl
note: includes oil sands (1 January 2005 est.)

Natural gas production

183.6 billion cu m (2004 est.)

Natural gas consumption

95.85 billion cu m (2004 est.)

Natural gas exports

104 billion cu m (2004 est.)

Natural gas imports

10.86 billion cu m (2004 est.)

Natural gas proved reserves

1.603 trillion cu m (1 January 2005 est.)

Current account balance

$20.56 billion (2006 est.)

Exports

$405 billion f.o.b. (2006 est.)

Exports commodities

motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum

Exports partners

US 82.3%, UK 2.2%, Japan 2.1% (2006)

Imports

$353.2 billion f.o.b. (2006 est.)

Imports commodities

machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods

Imports partners

US 55.1%, China 8.7%, Mexico 4% (2006)

Reserves of foreign exchange and gold

$35.79 billion (August 2006 est.)

Economic aid donor

ODA, $2.6 billion (2004)

Debt external

$684.7 billion (30 June 2006)

Currency code

Canadian dollar (CAD)

Exchange rates

Canadian dollars per US dollar - 1.1334 (2006), 1.2118 (2005), 1.301 (2004), 1.4011 (2003), 1.5693 (2002)

Communications - Canada:
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Military - Canada:
This page was last updated on 16 September, 2007
Source: CIA >>>


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