Economy - overview:
Canada 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. Canada has a large oil and natural gas sector with the majority of crude oil production derived from oil sands in the western provinces, especially Alberta. Canada now ranks third in the world in proved oil reserves behind Venezuela and Saudi Arabia and is the world’s sixth-largest oil producer.The 1989 Canada-US Free Trade Agreement and the 1994 North American Free Trade Agreement (which includes Mexico) dramatically increased trade and economic integration between the US and Canada. Canada and the US enjoy the world’s most comprehensive and highly balanced bilateral trade and investment relationship, with merchandise trade of $544 billion in 2016, services trade of over $80 billion, and two-way investment stocks of nearly $700 billion. Over three-fourths of Canada’s exports are destined for the US each year. Canada is the largest foreign supplier of energy to the US, including oil, natural gas, and electric power, and a top source of US uranium imports.Given its abundant natural resources, highly skilled labor force, and modern capital stock, Canada enjoyed solid economic growth from 1993 through 2007. The global economic crisis of 2007-08 moved the Canadian economy into sharp recession by late 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks 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. Since the fall in world oil prices in 2014, Canada has achieved modest economic growth.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
$1.764 trillion (2017 est.)
$1.712 trillion (2016 est.)
$1.687 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 18
$1.64 trillion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]
3% (2017 est.)
1.5% (2016 est.)
0.9% (2015 est.)
country comparison to the world: 118
[see also: GDP - real growth rate country ranks ]
$48,100 (2017 est.)
$47,200 (2016 est.)
$47,100 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 34
19.9% of GDP (2017 est.)
19.6% of GDP (2016 est.)
20.4% of GDP (2015 est.)
country comparison to the world: 90
[see also: Gross national saving country ranks ]
household consumption: 58.1%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 20.9%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22.8%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.3%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 31.4%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -33.6% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
agriculture: 1.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 28.1%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 70.2% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]
wheat, barley, oilseed, tobacco, fruits, vegetables; dairy products; fish; forest products
transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum, natural gas
4.8% (2017 est.)
country comparison to the world: 52
[see also: Industrial production growth rate country ranks ]
19.52 million (2017 est.)
country comparison to the world: 33
[see also: Labor force country ranks ]
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.)
6.5% (2017 est.)
7% (2016 est.)
country comparison to the world: 91
[see also: Unemployment rate country ranks ]
9.4%
note: this figure is the Low Income Cut-Off, a calculation that results in higher figures than found in many comparable economies; Canada does not have an official poverty line (2008 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 2.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 24.8% (2000)
32.1 (2005)
31.5 (1994)
country comparison to the world: 112
[see also: Distribution of family income - Gini index country ranks ]
revenues: $623.7 billion
[see also: Budget - revenues country ranks ]
expenditures: $657.3 billion (2017 est.)
[see also: Budget - expenditures country ranks ]
38% of GDP (2017 est.)
country comparison to the world: 44
[see also: Taxes and other revenues country ranks ]
-2% of GDP (2017 est.)
country comparison to the world: 86
[see also: Budget surplus (+) or deficit (-) country ranks ]
98.2% of GDP (2017 est.)
99.4% of GDP (2016 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
country comparison to the world: 18
[see also: Public debt country ranks ]
1 April - 31 March
1.6% (2017 est.)
1.4% (2016 est.)
country comparison to the world: 67
[see also: Inflation rate (consumer prices) country ranks ]
1% (31 December 2010)
0.25% (31 December 2009)
country comparison to the world: 128
[see also: Central bank discount rate country ranks ]
2.9% (31 December 2017 est.)
2.7% (31 December 2016 est.)
country comparison to the world: 170
[see also: Commercial bank prime lending rate country ranks ]
$715.3 billion (31 December 2017 est.)
$637.3 billion (31 December 2016 est.)
country comparison to the world: 10
[see also: Stock of narrow money country ranks ]
$1.554 trillion (31 December 2017 est.)
$1.362 trillion (31 December 2016 est.)
country comparison to the world: 13
[see also: Stock of broad money country ranks ]
$3.173 trillion (31 December 2017 est.)
$2.794 trillion (31 December 2016 est.)
country comparison to the world: 8
[see also: Stock of domestic credit country ranks ]
$1.593 trillion (31 December 2015 est.)
$2.095 trillion (31 December 2014 est.)
$2.114 trillion (31 December 2013 est.)
country comparison to the world: 8
[see also: Market value of publicly traded shares country ranks ]
-$55.57 billion (2017 est.)
-$50.53 billion (2016 est.)
country comparison to the world: 199
[see also: Current account balance country ranks ]
$433 billion (2017 est.)
$393.5 billion (2016 est.)
country comparison to the world: 12
[see also: Exports country ranks ]
motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum
US 76.4%, China 4.1% (2016)
$443.7 billion (2017 est.)
$413.4 billion (2016 est.)
country comparison to the world: 10
[see also: Imports country ranks ]
machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods
US 52.2%, China 12.1%, Mexico 6.2% (2016)
$85.6 billion (31 December 2017 est.)
$82.72 billion (31 December 2016 est.)
country comparison to the world: 29
[see also: Reserves of foreign exchange and gold country ranks ]
$1.608 trillion (31 March 2016 est.)
$1.55 trillion (31 March 2015 est.)
country comparison to the world: 15
[see also: Debt - external country ranks ]
$1.045 trillion (31 December 2017 est.)
$1.004 trillion (31 December 2016 est.)
country comparison to the world: 12
[see also: Stock of direct foreign investment - at home country ranks ]
$1.366 trillion (31 December 2017 est.)
$1.277 trillion (31 December 2016 est.)
country comparison to the world: 11
[see also: Stock of direct foreign investment - abroad country ranks ]
Canadian dollars (CAD) per US dollar -
1.308 (2017 est.)
1.3256 (2016 est.)
1.3256 (2015 est.)
1.2788 (2014 est.)
1.0298 (2013 est.)