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Canada
| Economy Overview |
| 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. |
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| Economy Statistics |
| Exports: |
$315.6 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
US 85.2%, Japan 2.1%, UK 1.6% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$256.1 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
US 58.9%, China 6.8%, Mexico 3.8% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| 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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