Canada Economy:
As an affluent, high-tech industrial society, newly entered in the trillion dollar class, Canada closely 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. Solid fiscal management has produced a long-term budget surplus which is substantially reducing the national debt, 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 United States, which absorbs more than 85% of Canadian exports.
GDP (purchasing power parity):
$1.02 trillion (2004 est.)
GDP real growth rate:
2.4% (2004 est.)
GDP per capita:
purchasing power parity: $31,500 (2004 est.)
GDP composition by sector:
agriculture: 2.3%
industry: 26.4%
services: 71.3%
(2004)
Labor force:
17.37 million (2004 est.)
Labor force by occupation:
services: 74%, manufacturing: 15%, construction: 5%, agriculture: 3%, other: 3% (2000 est.)
Unemployment rate:
7% (2004 est.)
Population below poverty line:
NA
Household income or consumption by percentage share:
lowest 10%: 2.8%
highest 10%: 23.8% (1994)
Distribution of family income Gini index:
31.5 (1994 est.)
Inflation rate (consumer prices):
1.9% (2004 est.)
Investment (gross fixed):
19.4% of GDP (2004 est.)
Budget:
revenues: $151 billion (2004 est.)
expenditures: $144 billion including capital expenditures of NA (2004 est.)
Public debt:
NA% of GDP (2004 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:
2% (2004 est.)
Electricity production:
548.9 billion kWh (2002 est.)
Electricity consumption:
487.3 billion kWh (2002 est.)
Electricity exports:
36.13 billion kWh (2002 est.)
Electricity imports:
13 billion kWh (2002 est.)
Oil production:
3.11 million bbl/day (2004 est.)
Oil consumption:
2.2 million bbl/day (2003 est.)
Oil exports:
1.37 million bbl/day (2004 est.)
Oil imports:
987,000 million bbl/day (2004 est.)
Oil proved reserves:
178.9 billion bbl including shale oil (2004 est.)
Natural gas production:
165.8 billion cu m (2003 est.)
Natural gas consumption:
55.8 billion cu m (2003 est.)
Natural gas exports:
91.52 billion cu m (2003 est.)
Natural gas imports:
8.73 billion cu m (2003 est.)
Natural gas proved reserves:
1.69 trillion cu m (2004 est.)
Current account balance:
$28.2 billion (2004 est.)
Exports:
$315.6 billion (f.o.b. 2004 est.)
Exports commodities:
motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment, chemicals, plastics, fertilizers, wood pulp, timber, crude petroleum, natural gas, electricity, aluminum
Exports partners:
US 85.2%, Japan 2.1%, UK 1.6%, (2004)
Imports:
$256.1 billion (f.o.b. 2004 est.)
Imports commodities:
machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods
Imports partners:
US 58.9%, China 6.8%, Mexico 3.8%, (2004)
Reserves of foreign exchange and gold:
$36.27 billion (2003 est.)
Debt external:
$570 billion (2004 est.)
Economic aid donor:
$2 billion ODA (2004 est.)
Currency:
Canadian dollar (CAD)
Exchange rates:
Canadian dollars per US$: 1.3 (2004 est.), 1.4 (2003 est.), 1.57 (2002 est.), 1.55 (2001 est.), 1.49 (2000 est.)
Fiscal year:
1 April - 31 March
|
