Economy Overview
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 labor force, and modern capital plant Canada enjoys solid economic prospects. Two shadows loom, the first being the continuing constitutional impasse between English- and French-speaking areas, which has been raising the possibility of a split in the federation. Another long-term concern is the flow south to the US of professional persons lured by higher pay, lower taxes, and the immense high-tech infrastructure.
Agriculture Products
wheat, barley, oilseed, tobacco, fruits, vegetables; dairy products; forest products; fish
Industries
processed and unprocessed minerals, food products, wood and paper products, transportation equipment, chemicals, fish products, petroleum and natural gas
Industrial Production Growth Rate
4.3% (1999 est.)
Labor Force
15.9 million (1999)
Electricity production
550.852 billion kWh (1998)
Electricity production by source
Fossil fuel: 27.18%
Hydro: 59.77%
Nuclear: 12.25%
Other: 0.8% (1998)
Electricity Consumption
484.515 billion kWh (1998)
Electricity Exports
39.502 billion kWh (1998)
Electricity Imports
11.725 billion kWh (1998)
Economic Aid - Donor
ODA, $2.1 billion (1997)
Currency
1 Canadian dollar (Can$) = 100 cents
Unemployment Rate
7.6% (1999)
Population Below Poverty Line
NA%
Household Income or Consumption by Percentage Share
Lowest 10%: 2.8%
Highest 10%: 23.8% (1994)
Budget
Revenues: $121.8 billion
Expenditures: $115.1 billion, including capital expenditures of $1.7 billion (1998)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$253 billion (1996)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Canadian dollars (Can$) per US$1 - 1.4489 (January 2000), 1.4857 (1999), 1.4835 (1998), 1.3846 (1997), 1.3635 (1996), 1.3724 (1995)
