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 more than 85% of Canadian exports. Canada is the US' largest foreign supplier of energy, including oil, gas, uranium, and electric power.
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
2.6% (2005 est.)
Labor Force
16.3 million (December 2005)
Electricity production
566.3 billion kWh (2003)
Electricity Consumption
520.9 billion kWh (2003)
Electricity Exports
22 billion kWh (2004)
Electricity Imports
33 billion kWh (2004)
Economic Aid - Donor
ODA, $2.6 billion (2004)
Unemployment Rate
6.8% (2005 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)
Budget
Revenues: $159.6 billion
Expenditures: $152.6 billion; including capital expenditures of $NA (2004)
Public Debt
69.6% of GDP (2005 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
$33.02 billion (2005 est.)
Debt External
$439.8 billion (30 November 2005)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Canadian dollars per US dollar - 1.2118 (2005), 1.301 (2004), 1.4011 (2003), 1.5693 (2002), 1.5488 (2001)
