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Canada Economy 2014
http://www.theodora.com/wfbcurrent/canada/canada_economy.html
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 31, 2014

Economy - overview:
As a high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent 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. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its great natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector's tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-12 and plans to balance the budget by 2015. In addition, the country's petroleum sector is rapidly becoming an even larger economic driver with Alberta's oil sands significantly boosting Canada's proven oil reserves, ranking the country third in the world behind Saudi Arabia and Venezuela.

GDP (purchasing power parity):
$1.474 trillion (2012 est.)
country comparison to the world: 14

$1.449 trillion (2011 est.)
$1.413 trillion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.797 trillion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.7% (2012 est.)
country comparison to the world: 144

2.5% (2011 est.)
3.4% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$42,300 (2012 est.)
country comparison to the world: 21

$42,100 (2011 est.)
$41,500 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
21.2% of GDP (2012 est.)
country comparison to the world: 68

21.1% of GDP (2011 est.)
19.8% of GDP (2010 est.)

GDP - composition, by end use:
household consumption: 55.6%
government consumption: 21.7%
investment in fixed capital: 24.1%
investment in inventories: 0.5%
exports of goods and services: 30%
imports of goods and services: -32%

(2012 est.)
[see also: country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.7%
industry: 28.5%
services: 69.8% (2012 est.)

Agriculture - products:
wheat, barley, oilseed, tobacco, fruits, vegetables; dairy products; fish; forest products

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

Industrial production growth rate:
1.8% (2012 est.)
country comparison to the world: 107
[see also: Industrial production growth rate country ranks ]

Labor force:
18.89 million (2012 est.)
country comparison to the world: 33
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2%
[see also: Labor force - by occupation - agriculture country ranks ]
manufacturing: 13%
construction: 6%
services: 76%
other: 3% (2006 est.)

Unemployment rate:
7.3% (2012 est.)
country comparison to the world: 80

7.5% (2011 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
9.4%
note: this figure is the Low Income Cut-Off (LICO), a calculation that results in higher figures than found in many comparable economies; Canada does not have an official poverty line (2008)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 24.8% (2000)

Distribution of family income - Gini index:
32.1 (2005)
country comparison to the world: 103

31.5 (1994)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $690.3 billion
[see also: Budget revenues country ranks ]
expenditures: $748.9 billion (2012 est.)

Taxes and other revenues:
38.4% of GDP (2012 est.)
country comparison to the world: 56
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.3% of GDP (2012 est.)
country comparison to the world: 126
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
85.4% of GDP (2012 est.)
country comparison to the world: 24

83.5% of GDP (2011 est.)
note: figures are for gross general government debt, as opposed to net federal debt; gross general government debt includes both intragovernmental debt and the debt of public entities at the sub-national level
[see also: Public debt country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
1.5% (2012 est.)
country comparison to the world: 30

2.9% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1% (31 December 2010 est.)
country comparison to the world: 141

0.25% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
3% (31 December 2012 est.)
country comparison to the world: 176

3% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$648.8 billion (31 December 2012 est.)
country comparison to the world: 9

$580.6 billion (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.523 trillion (31 December 2012 est.)
country comparison to the world: 13

$1.404 trillion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$3.091 trillion (31 December 2012 est.)
country comparison to the world: 9

$2.838 trillion (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$1.907 trillion (31 December 2011)
country comparison to the world: 7

$2.16 trillion (31 December 2010)
$1.681 trillion (31 December 2009)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$-62.27 billion (2012 est.)
country comparison to the world: 190

$-48.98 billion (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$462.9 billion (2012 est.)
country comparison to the world: 13

$461.6 billion (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum

Exports - partners:
US 74.5%, China 4.3%, UK 4.1% (2012)

Imports:
$474.9 billion (2012 est.)
country comparison to the world: 12

$460.9 billion (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods

Imports - partners:
US 50.6%, China 11%, Mexico 5.5% (2012)

Reserves of foreign exchange and gold:
$68.55 billion (31 December 2012 est.)
country comparison to the world: 31

$65.82 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.326 trillion (31 December 2012)
country comparison to the world: 15

$1.191 trillion (31 December 2011)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$992.2 billion (31 December 2012 est.)
country comparison to the world: 8

$899.8 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$991.6 billion (31 December 2012 est.)
country comparison to the world: 9

$906.4 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Canadian dollars (CAD) per US dollar -

0.9992 (2012 est.)
0.9895 (2011 est.)
1.0302 (2010 est.)
1.1431 (2009)
1.0364 (2008)


NOTE: The information regarding Canada on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Canada Economy 2014 information contained here. All suggestions for corrections of any errors about Canada Economy 2014 should be addressed to the CIA.



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