| Economy | Canada |
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Economy - overview:
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As an affluent, 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 and 2011 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 behing Saudia Arabia and Venezuela. |
GDP (purchasing power parity):
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$1.389 trillion (2011 est.)
$1.359 trillion (2010 est.)
$1.318 trillion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$40,300 (2011 est.)
$39,100 (2010 est.)
$37,900 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$1.759 trillion (2011 est.) |
GDP - real growth rate:
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2.2% (2011 est.)
3.1% (2010 est.)
-2.5% (2009 est.) |
GDP - composition by sector:
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agriculture: 1.9%
industry: 27.1%
services: 71% (2011 est.) |
Investment (gross fixed):
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22.7% of GDP (2011 est.) |
Population below poverty line:
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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) |
Household income or consumption by percentage share:
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lowest 10%: 2.6%
highest 10%: 24.8% (2000) |
Distribution of family income - Gini index:
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32.1 (2005)
31.5 (1994) |
Inflation rate (consumer prices):
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2.8% (2011 est.)
1.8% (2010 est.) |
Central bank discount rate:
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1% (31 December 2010 est.)
0.25% (31 December 2009 est.) |
Commercial bank prime lending rate:
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3% (31 December 2011 est.)
2.604% (31 December 2010 est.) |
Stock of money:
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$356.2 billion (31 December 2008)
$391.6 billion (31 December 2007) |
Stock of money - per capita:
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10,468 USD per capita |
Stock of quasi money:
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$1.299 trillion (31 December 2008)
$1.381 trillion (31 December 2007) |
Stock of quasi money - per capita:
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38,172 USD per capita |
Stock of domestic credit:
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$2.731 trillion (31 December 2010 est.)
$2.488 trillion (31 December 2009 est.) |
Stock of domestic credit - per capita:
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80,252 USD per capita |
Stock of narrow money:
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$626 billion (31 December 2011 est.)
$585.5 billion (31 December 2010 est.) |
Stock of broad money:
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$1.433 trillion (31 December 2011 est.)
$1.356 trillion (31 December 2010 est.) |
Labor force:
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18.68 million (2011 est.) |
Labor force participation rate:
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54.89 % of population |
Labor force - by occupation:
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agriculture: 2%
manufacturing: 13%
construction: 6%
services: 76%
other: 3% (2006 est.) |
Unemployment rate:
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7.4% (2011 est.)
8% (2010 est.) |
Unemployment, youth ages 15-24:
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total: 15.3%
male: 18.1%
female: 12.4% (2009) |
Budget:
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revenues: $677.6 billion
expenditures: $744.8 billion (2011 est.) |
Budget revenues per capita:
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19,912 USD per capita |
Taxes and other revenues:
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38.5% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-3.8% of GDP (2011 est.) |
Public debt:
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83.5% of GDP (2011 est.)
84% of GDP (2010 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 |
Industries:
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transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas |
Industrial production growth rate:
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4% (2011 est.) |
Electricity - production:
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604.4 billion kWh (2009 est.) |
Electricity - production per capita:
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17,761 kWh per capita |
Electricity - consumption:
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549.5 billion kWh (2008 est.) |
Electricity - consumption - per capita:
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16,148 kWh per capita |
Electricity - exports:
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51.11 billion kWh (2009 est.) |
Electricity - imports:
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33.62 billion kWh (2009 est.) |
Oil - production:
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3.483 million bbl/day (2010 est.) |
Oil - production per capita:
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102,350 bbl/day per capita |
Oil - consumption:
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2.209 million bbl/day (2010 est.) |
Oil - consumption - per capita:
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23.69 bbl/year per capita |
Oil - exports:
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1.929 million bbl/day (2009 est.) |
Oil - imports:
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1.088 million bbl/day (2009 est.) |
Oil - proved reserves:
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175.2 billion bbl
note: includes oil sands (1 January 2011 est.) |
Natural gas - production:
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152.3 billion cu m (2010 est.) |
Natural gas - production per capita:
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4,476 cu m per capita |
Natural gas - consumption:
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82.48 billion cu m (2010 est.) |
Natural gas - consumption - per capita:
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2,424 cu m per capita |
Natural gas - exports:
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92.4 billion cu m (2010 est.) |
Natural gas - imports:
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22.53 billion cu m (2010 est.) |
Natural gas - proved reserves:
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1.754 trillion cu m (1 January 2011 est.) |
Agriculture - products:
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wheat, barley, oilseed, tobacco, fruits, vegetables; dairy products; forest products; fish |
Current account balance:
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-$52.6 billion (2011 est.)
-$49.37 billion (2010 est.) |
Current account balance - per capita:
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-1,545 USD per capita |
Exports:
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$450.6 billion (2011 est.)
$393 billion (2010 est.) |
Exports per capita:
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13,242 USD per capita |
Exports - commodities:
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motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum |
Exports - partners:
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US 74.9%, UK 4.1% (2010) |
Imports:
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$459.6 billion (2011 est.)
$401.7 billion (2010 est.) |
Imports per capita:
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13,506 USD per capita |
Imports - commodities:
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machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods |
Imports - partners:
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US 50.4%, China 11%, Mexico 5.5% (2010) |
Reserves of foreign exchange and gold:
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$57.15 billion (31 December 2010 est.)
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Reserves of foreign exchange and gold - per capita:
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1,680 USD per capita |
Debt - external:
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$1.181 trillion (30 June 2011)
$1.009 trillion (30 June 2010) |
Debt - external - per capita:
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34,705 USD per capita |
Stock of direct foreign investment - at home:
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$596.8 billion (31 December 2011 est.)
$561.1 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
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17,538 USD per capita |
Stock of direct foreign investment - abroad:
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$659.8 billion (31 December 2011 est.)
$616.1 billion (31 December 2010 est.) |
Stock of direct foreign investment - abroad - per capita:
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19,389 USD per capita |
Market value of publicly traded shares:
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$2.16 trillion (31 December 2010)
$1.681 trillion (31 December 2009)
$1.002 trillion (31 December 2008) |
Market value of publicly traded shares - per capita:
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63,473 USD per capita |
Currency (code):
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Canadian dollar (CAD) |
Exchange rates:
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Canadian dollars (CAD) per US dollar -
0.9801 (2011 est.)
1.0302 (2010 est.)
1.1431 (2009)
1.0364 (2008)
1.0724 (2007) |
Fiscal year:
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1 April - 31 March |
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