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 growth among the OECD nations, averaging about 4%. With its great natural resources, skilled labor force, and modern capital plant, Canada has excellent economic prospects. In mid-1990, however, the long-simmering problems between English- and French-speaking areas became so acute that observers spoke openly of a possible split in the confederation; foreign investors were becoming edgy.

GDP: $513.6 billion, per capita $19,600; real growth rate 2.9% (1989 est.)

Inflation rate (consumer prices): 5.0% (1989)

Unemployment rate: 7.5% (1989)

Budget: revenues $79.2 billion; expenditures $102.0 billion, including capital expenditures of $1.8 billion (FY88 est.)

Exports: $127.2 billion (f.o.b., 1989); commodities--newsprint, wood pulp, timber, grain, crude petroleum, natural gas, ferrous and nonferrous ores, motor vehicles; partners--US, Japan, UK, FRG, other EC, USSR

Imports: $116.5 billion (c.i.f., 1989); commodities--processed foods, beverages, crude petroleum, chemicals, industrial machinery, motor vehicles, durable consumer goods, electronic computers; partners--US, Japan, UK, FRG, other EC, Taiwan, South Korea, Mexico

External debt: $247 billion (1987)

Industrial production: growth rate 2.3% (1989)

Electricity: 103,746,000 kW capacity; 472,580 million kWh produced, 17,960 kWh per capita (1989)

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

Agriculture: accounts for 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

Aid: donor--ODA and OOF commitments (1970-87), $2.2 billion

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

Exchange rates: Canadian dollars (Can$) per US$1--1.1714 (January 1990), 1.1840 (1989), 1.2307 (1988), 1.3260 (1987), 1.3895 (1986), 1.3655 (1985)

Fiscal year: 1 April-31 March

NOTE: The information regarding Canada on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Canada Economy 1990 information contained here. All suggestions for corrections of any errors about Canada Economy 1990 should be addressed to the CIA.