Overview: Canada ranks seventh in the world in total GNP, and is one of the largest producers and exporters of both grains and minerals. The mineral industry has been a major factor in Canada's economic development. Over the past 30 years, the impressive growth of the manufacturing sector has transformed the nation from a rural economy into one primarily industrial and urban; the industrial sector employs about 25% of the labor force. Since 1983 Canada has registered one of the highest rates of growth among the OECD nations, annually averaging nearly 4% for 1984-87.

GNP: $471.5 billion, per capita $18,070; real growth rate 4.1% (1988)

Inflation rate (consumer prices): 4.1% (1988)

Unemployment rate: 7.8% (1988)

Budget: revenues $75.2 billion; expenditures $89.5 billion, including capital expenditures of $1.8 billion (FY88)

Exports: $111.5 billion (f.o.b., 1988); @m5commodities--newsprint, wood pulp, timber, grain, crude petroleum, natural gas, ferrous and nonferrous ores, motor vehicles; @m5partners--US, Japan, UK, FRG, other EC, USSR

Imports: $102.1 billion (c.i.f., 1988); @m5commodities--processed foods, beverages, crude petroleum, chemicals, industrial machinery, motor vehicles, durable consumer goods, electronic computers; @m5partners--US, Japan, UK, FRG, other EC, Taiwan, South Korea, Mexico

External debt: $18.8 billion (1986)

Industrial production: growth rate 5.7% (1988)

Electricity: 100,737,000 kW capacity; 468,388 million kWh produced, 17,950 kWh per capita (1988)

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

Agriculture: livestock, grains (principally wheat), dairy products, feedgrains, oilseeds, tobacco

Aid: donor--ODA and OOF commitments (1970-86), $2.0 billion

Currency: Canadian dollar (plural--dollars); 1 Canadian dollar (Can$) = 100 cents

Exchange rates: Canadian dollars (Can$) per US$1--1.1914 (January 1989), 1.2307 (1988), 1.3260 (1987), 1.3895 (1986)

Fiscal year: 1 April-31 March

NOTE: The information regarding Canada on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Canada Economy 1989 information contained here. All suggestions for corrections of any errors about Canada Economy 1989 should be addressed to the CIA.