Overview: As an affluent, high-tech industrial society, Canada today closely resembles the US in per capita output, market-oriented economic system, and pattern of production. 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. In the 1980s, Canada registered one of the highest rates of real growth among the OECD nations, averaging about 3.2%. With its great natural resources, skilled labor force, and modern capital plant, Canada has excellent economic prospects, although the country still faces high unemployment and a growing debt. Moreover, the continuing constitutional impasse between English- and French-speaking areas has observers discussing a possible split in the confederation; foreign investors have become edgy.

National product: GDP - purchasing power equivalent - $617.7 billion (1993)

National product real growth rate: 2.4% (1993)

National product per capita: $22,200 (1993)

Inflation rate (consumer prices): 1.9% (1993)

Unemployment rate: 11% (December 1993)

Budget:
revenues: $92.34 billion (Federal)
expenditures: $123.04 billion, including capital expenditures of $NA (FY93 est.)

Exports: $133.9 billion (f.o.b., 1993)
commodities: newsprint, wood pulp, timber, crude petroleum, machinery, natural gas, aluminum, motor vehicles and parts; telecommunications equipment
partners: US, Japan, UK, Germany, South Korea, Netherlands, China

Imports: $125.3 billion (c.i.f., 1993)
commodities: crude oil, chemicals, motor vehicles and parts, durable consumer goods, electronic computers; telecommunications equipment and parts
partners: US, Japan, UK, Germany, France, Mexico, Taiwan, South Korea

External debt: $435 billion (1993)

Industrial production: growth rate 3.5% (1993)

Electricity:
capacity: 109,340,000 kW
production: 493 billion kWh
consumption per capita: 17,900 kWh (1992)

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

Agriculture: accounts for about 3% of GDP; one of the world's major producers and exporters of grain (wheat and barley); key source of US agricultural imports; large forest resources cover 35% of total land area; commercial fisheries provide annual catch of 1.5 million metric tons, of which 75% is exported

Illicit drugs: illicit producer of cannabis for the domestic drug market; use of hydroponics technology permits growers to plant large quantities of high-quality marijuana indoors; growing role as a transit point for heroin and cocaine entering the US market

Economic aid:
donor: ODA and OOF commitments (1970-89), $7.2 billion

Currency: 1 Canadian dollar (Can$) = 100 cents
Exchange rates: Canadian dollars (Can$) per US$1 - 1.3174 (January 1994), 1.2901 (1993), 1.2087 (1992), 1.1457 (1991), 1.1668 (1990), 1.1840 (1989)

Fiscal year: 1 April - 31 March

NOTE: The information regarding Canada on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Canada Economy 1995 information contained here. All suggestions for corrections of any errors about Canada Economy 1995 should be addressed to the CIA.