MBA Canada Canadian Economy

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The economy of Canada is absolutely advanced and most of the people have a high standard of living. Canada's economy comprehends primary, secondary and tertiary economic activities, importing and exporting of goods and services and global trade connections.

Canada is one of the world's richest nations, a member of the Organization for Economic Co-operation and Development (OECD) and Group of Eight (G8). Canada is one of the world's richest nations; it’s a member of the Organization for Economic Cooperation and Development (OECD) and Group of Eight (G8). The Canadian economy is managed by the service industry, which employs about three quarters of Canadians. Canada is between the developed countries in the primary sector growth, with the logging and oil industries being two most important of Canada. Canada also has a respectable manufacturing sector, centred in Southern Ontario, with the automobile industry particularly important.

Canada enjoys of an abundance of natural resources, such as woodlands, minerals, fishing, and hydroelectric power, all of which has favored Canada centre their economic development on the export of raw materials and around 33.6 percent of its GDP is dedicated to exports. This has helped to the conservation of the resources, which is a top priority of the nation.

The economy of Canada has kept solid performance for nearly a decade with augmented resilience to economic shocks, presenting the benefits of a solid macroeconomic framework and the compensation from a range of structural reforms implemented since the late 1980s.

Solid fiscal management has generated an excess of budget in the long term, which is considerably reducing the national debt, but public debate persists over how to manage the rising cost of the publicly funded healthcare system.

Economy Statistics

These are some of the most important statistics of Canada's economy :

Economy of the Canada Currency Canadian dollar (CAD) Fiscal year April 1 – March 31 Trade organisations NAFTA, OECD, WTO and others Economy Statistics GDP (PPP) (2006) $1.165 trillion GDP growth rate (2006) 2.8% GDP per capita (2006) $35,200 GDP by sector (2004) agriculture (2.3%), industry (26.4%), services (71.3%) Inflation (CPI) (2006) 2% Population below poverty line 15.9% (2003) Gini index (2000) 32.6% Labour force (2004) 17.37 million Labour force by occupation (15%), construction (5%), services (74%), other (3%) (2000) Unemployment rate (2007) 6.1% Main Industries Transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas. Trading Partners Exports (2006) $405 billion Export goods Motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment, chemicals, plastics, fertilizers, wood pulp, timber, crude petroleum, natural gas, electricity, aluminum. Main export partners (2004) U.S. 85.2%, Japan 2.1%, UK 1.6% Imports (2006) $353.2 billion Imports goods Machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods. Main Import Partners (2004) U.S. 58.9%, the People's Republic of China 6.8%, Mexico 3.8% Public finances Public debt (2006) $684.7 billion Revenues (2006) $183.5 billion Expenses (2006) $181.8 billion Economic Aid Donor (2006) $2.6 billion

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