|
Economy - overview:
|
As an affluent, high-tech
industrial society, newly entered in the trillion dollar class, Canada
closely 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. Given
its great natural resources, skilled labor force, and modern capital plant
Canada enjoys solid economic prospects. Solid fiscal management has produced
a long-term budget surplus which is substantially reducing the national
debt, although public debate continues over how to manage the rising cost
of the publicly funded healthcare system. Exports account for roughly a
third of GDP. Canada enjoys a substantial trade surplus with its principal
trading partner, the United States, which absorbs more than 85% of Canadian
exports. |
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GDP (purchasing power parity):
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$1.023 trillion (2004 est.) |
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GDP - real growth rate:
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2.4% (2004 est.) |
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GDP - per capita:
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purchasing power parity -
$31,500 (2004 est.) |
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GDP - composition by sector:
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agriculture: 2.3%
industry: 26.4%
services: 71.3% (2004 est.) |
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Labor force:
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17.37 million (2004) |
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Labor force - by occupation:
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agriculture 3%, manufacturing
15%, construction 5%, services 74%, other 3% (2000) |
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Unemployment rate:
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7% (2004) |
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Population below poverty line:
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NA |
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Household income or consumption by percentage share:
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lowest 10%: 2.8%
highest 10%: 23.8% (1994) |
|
Distribution of family income - Gini index:
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31.5 (1994) |
|
Inflation rate (consumer prices):
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1.9% (2004 est.) |
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Investment (gross fixed):
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19.4% of GDP (2004 est.) |
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Budget:
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revenues: $151 billion
expenditures: $144 billion, including capital expenditures of
NA (2004 est.) |
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Public debt:
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NA (2004 est.) |
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Agriculture - products:
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wheat, barley, oilseed, tobacco,
fruits, vegetables; dairy products; forest products; fish |
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Industries:
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transportation equipment,
chemicals, processed and unprocessed minerals, food products; wood and
paper products; fish products, petroleum and natural gas |
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Industrial production growth rate:
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2% (2004 est.) |
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Electricity - production:
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548.9 billion kWh (2002) |
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Electricity - consumption:
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487.3 billion kWh (2002) |
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Electricity - exports:
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36.13 billion kWh (2002) |
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Electricity - imports:
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13 billion kWh (2002) |
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Oil - production:
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3.11 million bbl/day (2004
est.) |
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Oil - consumption:
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2.2 million bbl/day (2003
est.) |
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Oil - exports:
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1.37 million bbl/day (2004) |
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Oil - imports:
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987,000 bbl/day (2004) |
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Oil - proved reserves:
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178.9 billion bbl including
shale oil (2004 est.) |
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Natural gas - production:
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165.8 billion cu m (2003 est.) |
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Natural gas - consumption:
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55.8 billion cu m (2003 est.) |
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Natural gas - exports:
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91.52 billion cu m (2003 est.) |
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Natural gas - imports:
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8.73 billion cu m (2003 est.) |
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Natural gas - proved reserves:
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1.691 trillion cu m (2004) |
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Current account balance:
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$28.2 billion (2004 est.) |
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Exports:
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$315.6 billion f.o.b. (2004
est.) |
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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 |
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Exports - partners:
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US 85.2%, Japan 2.1%, UK 1.6%
(2004) |
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Imports:
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$256.1 billion f.o.b. (2004
est.) |
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Imports - commodities:
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machinery and equipment, motor
vehicles and parts, crude oil, chemicals, electricity, durable consumer
goods |
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Imports - partners:
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US 58.9%, China 6.8%, Mexico
3.8% (2004) |
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Reserves of foreign exchange and gold:
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$36.27 billion (2003) |
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Debt - external:
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$570 billion (2004) |
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Economic aid - donor:
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ODA, $2 billion (2004) |
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Currency (code):
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Canadian dollar (CAD) |
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Exchange rates:
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Canadian dollars per US dollar
- 1.301 (2004), 1.4011 (2003), 1.5693 (2002), 1.5488 (2001), 1.4851 (2000) |
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Fiscal year:
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1 April - 31 March |
.
CANADA