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ECONOMY
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Economy
- Overview:
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As
an affluent, high-tech industrial society, Canada today closely
resembles the US in its market-oriented economic system, pattern
of production, and high 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. Real rates of growth
have averaged nearly 3.0% since 1993. Unemployment is falling
and government budget surpluses are being partially devoted to
reducing the large public sector debt. The 1989 US-Canada Free
Trade Agreement (FTA) and 1994 North American Free Trade Agreement
(NAFTA) (which included Mexico) have touched off a dramatic increase
in trade and economic integration with the US. With its great
natural resources, skilled labor force, and modern capital plant
Canada can anticipate solid economic prospects in the future.
The continuing constitutional impasse between English- and French-speaking
areas is raising the possibility of a split in the federation,
making foreign investors somewhat edgy. |
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GDP:
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purchasing
power parity$688.3 billion (1998 est.) |
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GDP
- Real Growth Rate:
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3%
(1998 est.) |
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GDP
- Per Capita:
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purchasing
power parity$22,400 (1998 est.) |
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GDP
- Composition by Sector:
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agriculture:
3%
industry: 31%
services: 66% (1998 |
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Population
Below Poverty Level:
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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) |
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Inflation
Rate :
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0.9%
(1998) |
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Labor
Force :
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15.8
million (1998) |
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Labor
Force - by Occupation:
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services
75%, manufacturing 16%, construction 5%, agriculture 3%, other
1% (1997) |
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Unemployment
Rate:
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7.8% (December 1998) |
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Budget:
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revenues:
$121.3 billion
expenditures: $112.6 billion, including capital expenditures
of $1.7 billion (1998) |
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Industries:
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processed and unprocessed minerals, food products, wood and paper
products, transportation equipment, chemicals, fish products,
petroleum and natural gas |
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Industrial
Production Growth Rate:
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0.8% (1998 est.) |
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Electricity
- Production:
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549.162 billion kWh (1996) |
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Electricity
- Production by Source:
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fossil
fuel: 20.34%
hydro: 63.59%
nuclear: 16.05%
other: 0.02% (1996) |
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Electricity
- Consumption:
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511.586
billion kWh (1996) |
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Electricity
- Exports:
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45.28
billion kWh (1996) |
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Electricity
- Imports:
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7.705
billion kWh (1996) |
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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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Exports:
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$210.7
billion (f.o.b., 1998) |
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Exports
- Commodities:
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motor
vehicles and parts, newsprint, wood pulp, timber, crude petroleum,
machinery, natural gas, aluminum, telecommunications equipment
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Exports
- Partners:
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US
81%, Japan 4%, UK, Germany, South Korea, Netherlands, China (1997)
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Imports:
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$202.7 billion (f.o.b., 1998) |
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Imports
-Commodities:
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machinery and equipment, crude oil, chemicals, motor vehicles
and parts, durable consumer goods |
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Imports
- Partners:
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US
76%, Japan 3%, UK, Germany, France, Mexico, Taiwan, South Korea
(1997) |
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Debt
- External:
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$253
billion (1996) |
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Economic
Aid - Recipient:
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NA |
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Currency:
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1
Canadian dollar (Can$) = 100 cents |
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Exchange
Rates :
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Canadian
dollars (Can$) per US$11.5192 (January 1999), 1.4835 (1998),
1.3846 (1997), 1.3635 (1996), 1.3724 (1995), 1.3656 (1994) |
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Fiscal
Year :
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1
April31 March |
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