Short facts about the economy in Canada
| 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. |
| GDP: |
purchasing power parity - $774.7
billion (2000 est.) |
| GDP - real
growth rate: |
4.3% (2000
est.) |
| GDP - per
capita: |
purchasing power parity - $24,800 (2000
est.) |
| GDP -
composition by sector: |
agriculture: 3%
industry: 31%
services: 66% (2000
est.) |
| Population
below poverty line: |
NA% |
| Household
income or consumption by percentage share: |
lowest 10%: 2.8%
highest 10%: 23.8%
(1994) |
| Inflation
rate (consumer prices): |
2.6%
(2000) |
| Labor
force: |
16.1 million
(2000) |
| Labor force
- by occupation: |
services 74%, manufacturing 15%,
construction 5%, agriculture 3%, other 3%
(2000) |
| Unemployment
rate: |
6.8% (2000
est.) |
| Budget: |
revenues: $126.1 billion
expenditures: $125.3 billion, including
capital expenditures of $14.8 billion
(2000) |
| Industries: |
processed and unprocessed minerals,
food products, wood and paper products, transportation equipment, chemicals,
fish products, petroleum and natural gas |
| Industrial
production growth rate: |
4.5% (2000
est.) |
| Electricity
- production: |
567.193 billion kWh
(1999) |
| Electricity
- production by source: |
fossil fuel: 26.38%
hydro: 60%
nuclear:
12.31%
other: 1.31%
(1999) |
| Electricity
- consumption: |
497.532 billion kWh
(1999) |
| Electricity
- exports: |
42.911 billion kWh
(1999) |
| Electricity
- imports: |
12.953 billion kWh
(1999) |
| Agriculture
- products: |
wheat, barley, oilseed, tobacco,
fruits, vegetables; dairy products; forest products;
fish |
| Exports: |
$272.3 billion (f.o.b., 2000
est.) |
| Exports -
commodities: |
motor vehicles and parts, newsprint,
wood pulp, timber, crude petroleum, machinery, natural gas, aluminum,
telecommunications equipment, electricity |
| Exports -
partners: |
US 86%, Japan 3%, UK, Germany, South
Korea, Netherlands, China (1999) |
| Imports: |
$238.2 billion (f.o.b., 2000
est.) |
| Imports -
commodities: |
machinery and equipment, crude oil,
chemicals, motor vehicles and parts, durable consumer goods,
electricity |
| Imports -
partners: |
US 76%, Japan 3%, UK, Germany, France,
Mexico, Taiwan, South Korea (1999) |
| Debt -
external: |
$1.9 billion
(2000) |
| Economic aid
- donor: |
ODA, $1.3 billion
(1999) |
| Currency: |
Canadian dollar
(CAD) |
| Exchange
rates: |
Canadian dollars per US dollar - 1.5032
(January 2001), 1.4851 (2000), 1.4857 (1999), 1.4835 (1998), 1.3846 (1997),
1.3635 (1996) |
| Fiscal
year: |
1 April - 31 March | Source: World Factbook |
