Economy of Canada

The economy of Canada is a highly developed mixed economy with 10th largest GDP by
nominal and 17th largest GDP by PPP in the world. As with other developed nations, the
country's economy is dominated by the service industry, which employs about three quarters of
Canadians.

Canada has the fourth highest total estimated value of natural resources, valued at
US$33.2 trillion in 2016. It has the world's third largest proven petroleum reserves and
is the fourth largest exporter of petroleum. It is also the fourth largest exporter of natural
gas. Canada is considered an "energy superpower" due to its abundant natural
resources.
Canada is unusual among developed countries in the importance of the primary sector,
with the logging and oil industries being two of Canada's most important. Canada also
has a sizable manufacturing sector, based in Central Canada, with the automobile
industry and aircraft industry being especially important. With a long coastline, Canada
has the 8th largest commercial fishing and seafood industry in the world. Canada is one
of the global leaders of the entertainment software industry.

 Toronto, the financial center of Canada

 GDP

$1.640 trillion (nominal; 2017)

$1.763 trillion (PPP; 2017)

 Currency: Canadian dollar (CAD)

Export goods:

 motor vehicles and parts  wood pulp

 Industrial machinery  timber

 aircraft  crude petroleum

 telecommunications equipment;  natural gas

 chemicals  Electricity

 Plastics  Aluminum

 fertilizers; Exports: $390.1 billion (2016)

As you can see from the graph above, manufactured goods—including cars and car parts,
aerospace, machinery and equipment, and electronics—still represent more of what we sell to
the rest of the world than anything else. If you included in the manufactured goods the so-
called valued-added energy, forest, and mineral products, that share would get even larger.

While energy exports have grown rapidly (12% per year on average) since June, 2009, exports
of manufactured products have increased at a rate of 7% per year over the same time period.
Import goods:

 Machinery and equipment

 Motor vehicles and parts

 Crude oil

 Chemicals

 Electricity

 Durable consumer goods

Imports: $416.6 billion (2016)

As the graph above shows, imports of manufactured goods swamp all other imports.
Canada Gross National Product

Gross National Product in Canada increased to 2153084 CAD Million in the fourth quarter of
2017 from 2119264 CAD Million in the third quarter of 2017. Gross National Product in Canada
averaged 760458.02 CAD Million from 1961 until 2017, reaching an all time high of 2153084
CAD Million in the fourth quarter of 2017 and a record low of 39836 CAD Million in the first
quarter of 1961.

Canada Gross Domestic Product

The Gross Domestic Product (GDP) in Canada was worth 1529.76 billion US
dollars in 2016. The GDP value of Canada represents 2.47 percent of the world
economy. GDP in Canada averaged 616.46 USD Billion from 1960 until 2016,
reaching an all time high of 1842.63 USD Billion in 2013 and a record low of
40.77 USD Billion in 1961.
Canadian Inflation Rate, 1997-2016 (CA$100)

According to Statistics Canada consumer price index, the dollar experienced an

average inflation rate of 1.86% per year. Prices in 2016 are 42.0% higher than
prices in 1997.

In other words, CA$100 in the year 1997 is equivalent in purchasing power to

CA$142.04 in 2016, a difference of CA$42.04 over 19 years.

The inflation rate in 2016 was 1.50%.