Hainan, China
CANADA
COUNTRIES A-Z



ECONOMIC DETAILS OF 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 - real growth rate:
2.7% (2006 est.) 


GDP - per capita:
$35,600 (2006 est.) 

GDP - by sector (agriculture):
agriculture: 2.3% 

GDP - by sector (industry):
industry: 29.2% 

GDP - by sector (services):
services: 68.5% (2006 est.) 


Export Partners:
US 82.3%, UK 2.2%, Japan 2.1% (2006) 

Import Partners:
US 55.1%, China 8.7%, Mexico 4% (2006) 

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

Import Commodities:
machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods 
Exports Volume:
$405 billion f.o.b. (2006 est.) 

Imports Volume:
$353.2 billion f.o.b. (2006 est.) 


 
Labour Force:
17.59 million (2006 est.) 

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) 

Inflation Rate:
2% (2006 est.) 

Investment (gross fixed):
21.3% of GDP (2006 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:
1.6 million bbl/day (2004) 

Oil - imports:
963,000 bbl/day (2004) 


 
Natural gas - production:
183.6 billion cu m (2004 est.) 

Natural gas - consumption:
 

Natural gas - exports:
 

Natural gas - imports:
 


Current Account Balance:
$20.56 billion (2006 est.) 

Currency Code:
Canadian dollar (CAD) 



 
 
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