Canada Economy 2001

Economy - overview: 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 enjoys solid economic prospects. Two shadows loom, the first being the continuing constitutional impasse between English- and French-speaking areas, which has been raising the possibility of a split in the federation. Another long-term concern is the flow south to the US of professional persons lured by higher pay, lower taxes, and the immense high-tech infrastructure.

GDP: purchasing power parity - $774.7 billion (2000 est.)

GDP - real growth rate: 4.3% (2000 est.)

GDP - per capita: purchasing power parity - $24,800 (2000 est.)

GDP - composition by sector:
agriculture: 3%
industry: 31%
services: 66% (2000 est.)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: 2.8%
highest 10%: 23.8% (1994)

Inflation rate (consumer prices): 2.6% (2000)

Labor force: 16.1 million (2000)

Labor force - by occupation: services 74%, manufacturing 15%, construction 5%, agriculture 3%, other 3% (2000)

Unemployment rate: 6.8% (2000 est.)

Budget:
revenues: $126.1 billion
expenditures: $125.3 billion, including capital expenditures of $14.8 billion (2000)

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

Industrial production growth rate: 4.5% (2000 est.)

Electricity - production: 567.193 billion kWh (1999)

Electricity - production by source:
fossil fuel: 26.38%
hydro: 60%
nuclear: 12.31%
other: 1.31% (1999)

Electricity - consumption: 497.532 billion kWh (1999)

Electricity - exports: 42.911 billion kWh (1999)

Electricity - imports: 12.953 billion kWh (1999)

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

Exports: $272.3 billion (f.o.b., 2000 est.)

Exports - commodities: motor vehicles and parts, newsprint, wood pulp, timber, crude petroleum, machinery, natural gas, aluminum, telecommunications equipment, electricity

Exports - partners: US 86%, Japan 3%, UK, Germany, South Korea, Netherlands, China (1999)

Imports: $238.2 billion (f.o.b., 2000 est.)

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

Imports - partners: US 76%, Japan 3%, UK, Germany, France, Mexico, Taiwan, South Korea (1999)

Debt - external: $1.9 billion (2000)

Economic aid - donor: ODA, $1.3 billion (1999)

Currency: Canadian dollar (CAD)

Currency code: CAD

Exchange rates: Canadian dollars per US dollar - 1.5032 (January 2001), 1.4851 (2000), 1.4857 (1999), 1.4835 (1998), 1.3846 (1997), 1.3635 (1996)

Fiscal year: 1 April - 31 March

NOTE: The information regarding Canada on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Canada Economy 2001 information contained here. All suggestions for corrections of any errors about Canada Economy 2001 should be addressed to the CIA.