| Economy - overview | 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. Given its great natural resources, skilled labor force, and modern capital plant, Canada enjoys solid economic prospects. Top-notch fiscal management has produced consecutive balanced budgets since 1997, 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 US, which absorbs about 85% of Canadian exports. Canada is the US' largest foreign supplier of energy, including oil, gas, uranium, and electric power. |
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| GDP | 1.1% (2005 est.) |
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| GDP - real growth rate | 2.7% (2006 est.) |
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| GDP - composition by sector | agriculture: 2.3%
industry: 29.2%
services: 68.5% (2006 est.) |
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| Population below poverty line | 15.9%; 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 (2003) |
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Household income or consumption
by percentage share | lowest 10%: 2.8%
highest 10%: 23.8% (1994) |
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Distribution of family income
- Gini index | 33.1 (1998) |
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| Labor force | 17.59 million (2006 est.) |
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| Labor force - by occupation | agriculture 2%, manufacturing 14%, construction 5%, services 75%, other 3% (2004) |
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| Unemployment rate | 6.4% (2006 est.) |
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| Budget | revenues: $183.5 billion
expenditures: $181.8 billion; including capital expenditures of $NA (2005 est.) |
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| Industries | 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 | 0.7% (2006 est.) |
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Electricity -
production | 573 billion kWh (2004) |
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Electricity -
production by source | fossil fuel: 28%
hydro: 57.9%
nuclear: 12.9%
other: 1.3% (2001) |
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Electricity -
consumption | 522.4 billion kWh (2004) |
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Electricity -
exports | 33.01 billion kWh (2004) |
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Electricity -
imports | 22.48 billion kWh (2004) |
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| Oil - production | 3.135 million bbl/day (2004) |
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| Oil - consumption | 2.294 million bbl/day (2004) |
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| Oil - exports | 1.6 million bbl/day (2004) |
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| Oil - imports | 963,000 bbl/day (2004) |
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| Oil - proved reserves | 178.9 billion bbl
note: includes oil sands (2004 est.) |
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| Agriculture - products | wheat, barley, oilseed, tobacco, fruits, vegetables; dairy products; forest products; fish |
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| Exports | $405 billion f.o.b. (2006 est.) |
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| Exports - commodities | 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 | US 84.2%, Japan 2.1%, UK 1.8% (2005) |
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| Imports | $353.2 billion f.o.b. (2006 est.) |
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| Imports - commodities | machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods |
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| Imports - partners | US 56.7%, China 7.8%, Mexico 3.8% (2005) |
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| Debt - external | $684.7 billion (30 June 2006) |
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| Currency code | CAD |
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| Exchange rates | Canadian dollars per US dollar - 1.1334 (2006), 1.2118 (2005), 1.301 (2004), 1.4011 (2003), 1.5693 (2002) |
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| Fiscal year | 1 April - 31 March |
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