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.
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.)
Labor Force
17.59 million (2006 est.)
Electricity production
609.6 billion kWh (2005)
Electricity Consumption
540.2 billion kWh (2005)
Electricity Exports
42.93 billion kWh (2005)
Electricity Imports
19.33 billion kWh (2005)
Economic Aid - Donor
ODA, $2.6 billion (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%: 2.6%
Highest 10%: 24.8% (2000)
Distribution of Family Income Gini Index
32.6 (2000)
Budget
Revenues: $510.6 billion
Expenditures: $501 billion (2006 est.)
Public Debt
67.7% of GDP (2006 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
$1.481 trillion (2005)
Reserves of Foreign Exchange and Gold
$35.06 billion (2006 est.)
Debt External
$684.7 billion (30 June 2006)
Stock of Direct Foreign Investment at Home
$398.4 billion (2006 est.)
Stock of Direct Foreign Investment Abroad
$458.1 billion (2006 est.)
Exchange Rates
Canadian dollars per US dollar - 1.1334 (2006), 1.2118 (2005), 1.301 (2004), 1.4011 (2003), 1.5693 (2002)
