An Overview of the Economy
Canada has an advanced economy. The Canadian economy has grown a
lot faster than any other developed countries since the recession
of the early 1990's. This rapid growth in the economy is mainly due
to low inflation, low interest rates and a low Canadian dollar
allowing exports to grow. Canada has a lot of natural resources
such as forests, minerals, fish and hydroelectric power all of
which has been the main focus on exports to help the economy.
Exports in Canada amount to 33.6% of its GDP.
| Statistics |
|
| GDP (PPP) (IMF) (US$Billions) |
1,266 |
| GDP (PPP) (CIA) (US$Billions) |
1,274 |
| GDP Growth (IMF) (%) |
2.7% |
| GDP Growth (CIA) (%) |
2.7% |
| GDP Per Capita (PPP) (IMF) (US$) |
38,435 |
| GDP Per Capita (PPP) (CIA) (US$) |
38,200 |
| GDP by Sector (%) |
Agriculture: 2.1%
Services: 28.8%
Industry: 69.1% |
| Inflation (%) |
2.4% |
| Population Below the Poverty Line (%) |
10.8% |
| Labour Force (Millions) |
17.9 |
| Labour Force by Occupation (%) |
Agriculture: 2%
Manufactoring: 13%
Construction: 6%
Services: 76%
|
| Unemployment (%) |
5.9% |
| Main Industries |
Transportation equipment, chemicals,
processed and unprocessed minerals,
food products. |
Sources: CIA World Factbook, IMF
GDP
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
870.5 |
993.4 |
1,106.0 |
1,181.0 |
1,406.0 |
| GDP Growth (%) |
1.8% |
3.3% |
2.9% |
2.7% |
2.7% |
| GDP Per Capita (US$) |
27,455 |
31,111 |
35,105 |
38,951 |
38,200 |
| GDP Per Capita (PPP) (US$) |
29,400 |
29,800 |
31,500 |
33,900 |
38,200 |
| Inflation (%) |
2.8% |
1.9% |
2.2% |
2.0% |
2.4% |
| Unemployment (%) |
7.6% |
7.8% |
7.0% |
6.8% |
5.9% |
Foreign-Exchange
& Gold Reserves (US$Billions) |
36.3 |
36.3 |
33.0 |
35.8 |
39.3 |
| Mobile Phone Users |
8,751,300 |
13,221,800 |
13,221,800 |
16,600,000 |
18,749,000 |
| Internet Users |
20,450,000 |
- |
21,900,000 |
22,000,000 |
22,000,000 |
Sources: CIA World Factbook, IMF
Major Exports & Imports
The Canadian economy relies heavily on its imports and exports
to sustain its economy, with machinery and chemical industry
constituting the majority of both exports and imports materiel.
Canada's imports and exports are increasing annually and continue
to rise.
Major Exports 2007
Motor vehicles and parts, industrial machinery, aircraft,
telecommunications equipment, chemicals, plastics, fertilizers,
wood pulp, timber, crude petroleum,
natural gas, electricity, aluminium.
Major Imports 2007
Machinery and equipment, motor vehicles and parts, crude oil,
chemicals and electricity, durable consumer goods.
| Export Partners |
% of total |
| US |
81.6% |
| UK |
2.3% |
| Japan |
2.1% |
| import partners |
% of total |
| US |
54.9% |
| China |
8.7% |
| Mexico |
4.0% |
Source: CIA World Factbook
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