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Canada

Overview:

As an affluent, high-tech industrial society, Canada today closely resembles the US in per capita output, market-oriented economic system, and pattern of production. 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. In the 1980s, Canada registered one of the highest rates of real growth among the OECD nations, averaging about 3.2%. With its great natural resources, skilled labor force, and modern capital plant, Canada has excellent economic prospects, although the country still faces high unemployment and a growing debt. Moreover, the continuing constitutional impasse between English- and French-speaking areas has observers discussing a possible split in the confederation; foreign investors have become edgy.

National product:

GDP - purchasing power parity - $639.8 billion (1994 est.)

National product real growth rate:

4.5% (1994)

National product per capita:

$22,760 (1994)

Inflation rate (consumer prices):

0.2% (1994)

Unemployment rate:

9.6% (December 1994)

Budget:

revenues:

$85 billion (Federal)

expenditures:

$115.3 billion, including capital expenditures of $NA (FY93/94 est.)

Exports:

$164.3 billion (f.o.b., 1994 est.)

commodities:

newsprint, wood pulp, timber, crude petroleum, machinery, natural gas, aluminum, motor vehicles and parts; telecommunications equipment

partners:

US, Japan, UK, Germany, South Korea, Netherlands, China

Imports:

$151.5 billion (c.i.f., 1994 est.)

commodities:

crude oil, chemicals, motor vehicles and parts, durable consumer goods, electronic computers; telecommunications equipment and parts

partners:

US, Japan, UK, Germany, France, Mexico, Taiwan, South Korea

External debt:

$243 billion (1993)

Industrial production:

growth rate 4.8% (1993)

Electricity:

capacity:

108,090,000 kW

production:

511 billion kWh

consumption per capita:

16,133 kWh (1993)

Industries:

processed and unprocessed minerals, food products, wood and paper products, transportation equipment, chemicals, fish products, petroleum and natural gas

Agriculture:

accounts for about 3% of GDP; one of the world's major producers and exporters of grain (wheat and barley); key source of US agricultural imports; large forest resources cover 35% of total land area; commercial fisheries provide annual catch of 1.5 million metric tons, of which 75% is exported

Illicit drugs:

illicit producer of cannabis for the domestic drug market; use of hydroponics technology permits growers to plant large quantities of high-quality marijuana indoors; growing role as a transit point for heroin and cocaine entering the US market

Economic aid:

donor:

ODA and OOF commitments (1970-89), $7.2 billion

Currency:

1 Canadian dollar (Can$) = 100 cents

Exchange rates:

Canadian dollars (Can$) per US$1 - 1.4129 (January 1995), 1.3656 (1994), 1.2901 (1993), 1.2087 (1992), 1.1457 (1991), 1.1668 (1990)

Fiscal year:

1 April - 31 March

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