Economy Of Canada
Currency |
Canadian dollar (CAD) |
|---|---|
Fiscal year |
1 April ? 31 March |
Trade organizations |
NAFTA, OECD, WTO and others |
| Statistics | |
GDP (PPP) |
$1.274 trillion (2007 est.) (13th) |
GDP growth |
2.7% (2007 est.) |
GDP per capita |
$38,200 (2007 est.) |
GDP by sector |
agriculture (2.1%), industry (28.8%), services (69.1%) (2007 est.) |
Inflation (CPI) |
2.4% (2007 est.) |
Population below poverty line |
10.8% (relative) (2005) / 4.9% (absolute) (2004) |
Gini index |
31.5% (2004) |
Labour force |
17.9 million (2007 est.) |
Labour force by occupation |
Agriculture (2%), manufacturing (13%), construction (6%), services (76%), other (3%) (2006) |
Unemployment |
5.98% (2007 est.) |
Main industries |
transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas |
| External | |
Exports |
$440.1 billion (2007 est.) |
Export goods |
motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment, electronics, chemicals, plastics, fertilizers, wood pulp, timber, crude petroleum, natural gas, electricity, aluminum |
Main export partners |
U.S. 81.6%, UK 2.3%, Japan 2.1% (2006) |
Imports |
$394.4 billion (2007 est.) |
Import goods |
machinery and equipment, motor vehicles and parts, electronics, crude oil, chemicals, electricity, durable consumer goods |
Main import partners |
U.S. 54.9%, People's Republic of China 8.7%, Mexico 4% (2006) |
Gross External Debt |
$758.6 billion (2007 est.) |
| Public finances | |
Public debt |
$467.3 billion CAD (Federal, 2007) |
Revenues |
$565.8 billion |
Expenses |
$551.2 billion (2007 est.) |
Economic aid |
$3.9 billion (donor) (2007) |
| Main data source: CIA World Factbook All values, unless otherwise stated, are in US dollars |
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Canada is the home to the eighth largest economy in the world (measured in US dollars at market exchange rates), is one of the world's wealthiest nations, and a member of the Organization for Economic Co-operation and Development (OECD) and Group of Eight (G8). As with other developed nations, the Canadian economy is dominated by the service industry, which employs about three quarters of Canadians. Canada is unusual among developed countries in the importance of the primary sector, with the logging and oil industries being two of Canada's most important. Canada also has a sizable manufacturing sector, centred in Central Canada, with the automobile industry especially important.
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International trade makes up a large part of the Canadian economy, particularly of its natural resources. The United States is by far its largest trading partner, accounting for about 76% of exports and 65% of imports as of 2007. Canada's combined exports and imports ranked 8th among all nations in 2006 .
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Canada is a mixed market or social market economy which, according to the Heritage Foundation ranks higher on the "index of economic freedom" than most western European countries but lower than the U.S. Canada ranks among the most developed countries on the Human development index, with a GDP per capita lower than and a median household income roughly equal to that of the United States.
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