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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, 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 country's tradition of conservative lending practices and strong capitalization. During 2010, Canada's economy grew only 3%, because of weak exports. GDP (purchasing power parity): $1.335 trillion (2010 est.) country comparison to the world: 15 $1.297 trillion (2009 est.)
$1.33 trillion (2008 est.) note: data are in 2010 US dollars

GDP (official exchange rate): $1.564 trillion (2009 est.) GDP - real growth rate: 3% (2010 est.) country comparison to the world: 128
-2.5% (2009 est.) 0.5% (2008 est.)

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GDP - per capita: $39,600 (2010 est.) country comparison to the world: 23 $38,700 (2009 est.) $40,000 (2008 est.) note: data are in 2010 US dollars

GDP - composition by sector: agriculture: 2.3% industry: 26.4% services: 71.3% (2008 est.) Labor force: 18.59 million (2009 est.) country comparison to the world: 31 Labor force - by occupation: agriculture: 2% manufacturing: 13% construction: 6% services: 76% other: 3% (2006 est.)

Unemployment rate: 8% (2010 est.) country comparison to the world: 91

8.3% (2009 est.)

Population below poverty line: 10.8%; 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 (2005)

Household income or consumption by percentage share: lowest 10%: 2.6% highest 10%: 24.8% (2000)

Distribution of family income - Gini index: 32.1 (2005) country comparison to the world: 100

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31.5 (1994)

Investment (gross fixed): 22.1% of GDP (2009 est.) country comparison to the world: 66

Budget: revenues: $605.7 billion expenditures: $677.7 billion (2009 est.)

Public debt: 82.9% of GDP (2010 est.) country comparison to the world: 16
82.5% of GDP (2009 est.)

Inflation rate (consumer prices): 1.6% (2010 est.) country comparison to the world: 43 0.3% (2009 est.)

Central bank discount rate: 0.5% (31 December 2009) country comparison to the world: 132 1.75% (31 December 2008)

Commercial bank prime lending rate: 2.4% (31 December 2009 est.) country comparison to the world: 152 4.73% (31 December 2008 est.)

Stock of narrow money: $560.8 billion (31 December 2010 est)

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$470.9 billion (31 December 2009 est)

Stock of broad money: $1.469 trillion (31 December 2010 est.) $1.144 trillion (31 December 2009 est.)

Stock of domestic credit: $2.963 trillion (31 December 2010 est.) country comparison to the world: 10 $2.606 trillion (31 December 2009 est.)

Market value of publicly traded shares: $1.681 trillion (31 December 2009) country comparison to the world: 10 $1.002 trillion (31 December 2008) $2.187 trillion (31 December 2007)

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: 5.8% (2009 est.) country comparison to the world: 57 [see also: Industrial production growth rate country ranks ] Electricity - production: 620.7 billion kWh (2007 est.) country comparison to the world: 7 [see also: Electricity - production country ranks ] Electricity - consumption: 536.1 billion kWh (2007 est.) country comparison to the world: 8 [see also: Electricity - consumption country ranks ]

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Electricity - exports: 55.73 billion kWh (2008 est.) [see also: Electricity - exports country ranks ] Electricity - imports: 23.5 billion kWh (2008 est.) [see also: Electricity - imports country ranks ] Oil - production: 3.289 million bbl/day (2009 est.) country comparison to the world: 6 [see also: Oil - production country ranks ] Oil - consumption: 2.151 million bbl/day (2009 est.) country comparison to the world: 11 [see also: Oil - consumption country ranks ] Oil - exports: 2.001 million bbl/day (2008 est.) country comparison to the world: 10 [see also: Oil - exports country ranks ] Oil - imports: 1.192 million bbl/day (2008 est.) country comparison to the world: 15 [see also: Oil - imports country ranks ] Oil - proved reserves: 175.2 billion bbl country comparison to the world: 2 note: includes oil sands (1 January 2010 est.) [see also: Oil - proved reserves country ranks ] Natural gas - production: 161.3 billion cu m (2009 est.) country comparison to the world: 5 [see also: Natural gas - production country ranks ] Natural gas - consumption: 94.62 billion cu m (2009 est.) country comparison to the world: 7 [see also: Natural gas - consumption country ranks ] Natural gas - exports: 94.67 billion cu m (2009 est.) country comparison to the world: 3 [see also: Natural gas - exports country ranks ]

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Natural gas - imports: 16.59 billion cu m (2009 est.) country comparison to the world: 16 [see also: Natural gas - imports country ranks ] Natural gas - proved reserves: 1.754 trillion cu m (1 January 2010 est.) country comparison to the world: 21 [see also: Natural gas - proved reserves country ranks ] Current account balance: -$40.21 billion (2010 est.) country comparison to the world: 184
-$38.08 billion (2009 est.) [see also: Current account balance country ranks ]

Exports: $406.8 billion (2010 est.) country comparison to the world: 10

$323.3 billion (2009 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 75.02%, UK 3.37%, China 3.09% (2009) Imports: $406.4 billion (2010 est.) country comparison to the world: 12
$327.3 billion (2009 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 51.1%, China 10.88%, Mexico 4.56% (2009) Reserves of foreign exchange and gold: $NA (31 December 2010 est.)
$54.36 billion (31 December 2009 est.) [see also: Reserves of foreign exchange and gold country ranks ]

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Debt - external: $1.009 trillion (30 June 2010) country comparison to the world: 15
$781.1 billion (31 December 2008) [see also: Debt - external country ranks ]

Stock of direct foreign investment - at home: $528.7 billion (31 December 2010 est.) country comparison to the world: 10
$494.6 billion (31 December 2009 est.) [see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad: $602.5 billion (31 December 2010 est.) country comparison to the world: 11
$576.2 billion (31 December 2009 est.) [see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates: Canadian dollars (CAD) per US dollar - 1.0346 (2010), 1.1431 (2009), 1.0364 (2008), 1.0724 (2007), 1.1334 (2006)
NOTE: The information regarding Canada on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Canada Economy 2011 information contained here. All suggestions for corrections of any errors about Canada Economy 2011 should be addressed to the CIA.

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