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Canada Economy 2012

SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES











Canada Economy 2012
SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 15,

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, 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):
$1.389 trillion (2011 est.)
country comparison to the world: 15

$1.359 trillion (2010 est.)
$1.318 trillion (2009 est.)
note: data are in 2011 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.759 trillion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.2% (2011 est.)
country comparison to the world: 146

3.1% (2010 est.)
-2.5% (2009 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$40,300 (2011 est.)
country comparison to the world: 21

$39,100 (2010 est.)
$37,900 (2009 est.)
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 1.9%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 27.1%
[see also: GDP - composition by sector - industry country ranks ]
services: 71% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
18.68 million (2011 est.)
country comparison to the world: 31
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2%
[see also: Labor force - by occupation - agriculture country ranks ]
manufacturing: 13%
construction: 6%
services: 76%
[see also: Labor force - by occupation - services country ranks ]
other: 3% (2006 est.)

Unemployment rate:
7.4% (2011 est.)
country comparison to the world: 82

8% (2010 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
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)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 24.8% (2000)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
32.1 (2005)
country comparison to the world: 105

31.5 (1994)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
22.7% of GDP (2011 est.)
country comparison to the world: 82
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $677.6 billion
[see also: Budget revenues country ranks ]
expenditures: $744.8 billion (2011 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
38.5% of GDP (2011 est.)
country comparison to the world: 48
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.8% of GDP (2011 est.)
country comparison to the world: 121
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
83.5% of GDP (2011 est.)
country comparison to the world: 19

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
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
2.8% (2011 est.)
country comparison to the world: 43

1.8% (2010 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1% (31 December 2010 est.)
country comparison to the world: 143

0.25% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
3% (31 December 2011 est.)
country comparison to the world: 184

2.604% (31 December 2010 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$626 billion (31 December 2011 est.)
country comparison to the world: 9

$585.5 billion (31 December 2010 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.433 trillion (31 December 2011 est.)
country comparison to the world: 13

$1.356 trillion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$2.731 trillion (31 December 2010 est.)
country comparison to the world: 11

$2.488 trillion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$2.16 trillion (31 December 2010)
country comparison to the world: 8

$1.681 trillion (31 December 2009)
$1.002 trillion (31 December 2008)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
wheat, barley, oilseed, tobacco, fruits, vegetables; dairy products; forest products; fish

Industries:
transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas

Industrial production growth rate:
4% (2011 est.)
country comparison to the world: 89
[see also: Industrial production growth rate country ranks ]

Electricity - production:
604.4 billion kWh (2009 est.)
country comparison to the world: 7
[see also: Electricity - production country ranks ]

Electricity - consumption:
549.5 billion kWh (2008 est.)
country comparison to the world: 7
[see also: Electricity - consumption country ranks ]

Electricity - exports:
51.11 billion kWh (2009 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
33.62 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
3.483 million bbl/day (2010 est.)
country comparison to the world: 6
[see also: Oil - production country ranks ]

Oil - consumption:
2.209 million bbl/day (2010 est.)
country comparison to the world: 10
[see also: Oil - consumption country ranks ]

Oil - exports:
1.929 million bbl/day (2009 est.)
country comparison to the world: 10
[see also: Oil - exports country ranks ]

Oil - imports:
1.088 million bbl/day (2009 est.)
country comparison to the world: 14
[see also: Oil - imports country ranks ]

Natural gas - production:
152.3 billion cu m (2010 est.)
country comparison to the world: 4
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
82.48 billion cu m (2010 est.)
country comparison to the world: 11
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
92.4 billion cu m (2010 est.)
country comparison to the world: 5
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
22.53 billion cu m (2010 est.)
country comparison to the world: 14
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
1.754 trillion cu m (1 January 2011 est.)
country comparison to the world: 21
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$52.6 billion (2011 est.)
country comparison to the world: 190

-$49.37 billion (2010 est.)
[see also: Current account balance country ranks ]

Exports:
$450.6 billion (2011 est.)
country comparison to the world: 13

$393 billion (2010 est.)
[see also: Exports country ranks ]

Exports - commodities:
motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum

Exports - partners:
US 74.9%, UK 4.1% (2010)

Imports:
$459.6 billion (2011 est.)
country comparison to the world: 12

$401.7 billion (2010 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods

Imports - partners:
US 50.4%, China 11%, Mexico 5.5% (2010)

Reserves of foreign exchange and gold:
$57.15 billion (31 December 2010 est.)
country comparison to the world: 29


[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.181 trillion (30 June 2011)
country comparison to the world: 15

$1.009 trillion (30 June 2010)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$596.8 billion (31 December 2011 est.)
country comparison to the world: 9

$561.1 billion (31 December 2010 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$659.8 billion (31 December 2011 est.)
country comparison to the world: 11

$616.1 billion (31 December 2010 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Canadian dollars (CAD) per US dollar -

0.9801 (2011 est.)
1.0302 (2010 est.)
1.1431 (2009)
1.0364 (2008)
1.0724 (2007)


NOTE: 1) The information regarding Canada on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Canada Economy 2012 information contained here. All suggestions for corrections of any errors about Canada Economy 2012 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 07-Mar-12
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