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Canada


Economy Overview
Canada
As an affluent, high-tech industrial society, newly entered in the trillion dollar class, Canada closely 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. Given its great natural resources, skilled labor force, and modern capital plant Canada enjoys solid economic prospects. Solid fiscal management has produced a long-term budget surplus which is substantially reducing the national debt, although public debate continues over how to manage the rising cost of the publicly funded healthcare system. Exports account for roughly a third of GDP. Canada enjoys a substantial trade surplus with its principal trading partner, the United States, which absorbs more than 85% of Canadian exports.

Economy Statistics
Economy Statistics
Exports: $315.6 billion f.o.b. (2004 est.) [?]
Export
Commodities:
motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum [?]
Export
Partners:
US 85.2%, Japan 2.1%, UK 1.6% (2004) [?]
Imports: $256.1 billion f.o.b. (2004 est.) [?]
Import
Commodities:
machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods [?]
Import
Partners:
US 58.9%, China 6.8%, Mexico 3.8% (2004) [?]

Company Browser

Canadian Chamber of Commerce
Address: Delta Office Tower 350 Sparks Street Suite 501 Ottawa, ON K1R 7S8
Phone: (613) 238-4000
Fax: (613) 238-7643
Website: http://www.chamber.ca/



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