Economy - overview:
Canada 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. Canada has a large oil and natural gas sector with the majority of crude oil production derived from oil sands in the western provinces, especially Alberta. Canada now ranks third in the world in proved oil reserves behind Venezuela and Saudi Arabia and is the world’s seventh-largest oil producer.

TThe 1989 Canada-US Free Trade Agreement and the 1994 North American Free Trade Agreement (which includes Mexico) dramatically increased trade and economic integration between the US and Canada. Canada and the US enjoy the world’s most comprehensive bilateral trade and investment relationship, with goods and services trade totaling more than $680 billion in 2017, and two-way investment stocks of more than $800 billion. Over three-fourths of Canada’s merchandise exports are destined for the US each year. Canada is the largest foreign supplier of energy to the US, including oil, natural gas, and electric power, and a top source of US uranium imports.

Given its abundant natural resources, highly skilled labor force, and modern capital stock, Canada enjoyed solid economic growth from 1993 through 2007. The global economic crisis of 2007-08 moved the Canadian economy into sharp recession by late 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector's tradition of conservative lending practices and strong capitalization. Canada’s economy posted strong growth in 2017 at 3%, but most analysts are projecting Canada’s economic growth will drop back closer to 2% in 2018.

GDP (purchasing power parity):
$1.774 trillion (2017 est.)
$1.721 trillion (2016 est.)
$1.697 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 17
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.653 trillion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3% (2017 est.)
1.4% (2016 est.)
1% (2015 est.)
country comparison to the world: 112
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$48,400 (2017 est.)
$47,500 (2016 est.)
$47,400 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 34
[see also: GDP - per capita country ranks ]

Gross national saving:
20.8% of GDP (2017 est.)
20% of GDP (2016 est.)
20.5% of GDP (2015 est.)
country comparison to the world: 90
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 57.8% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 20.8% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 23% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.7% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 30.9% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -33.2% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.6% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 28.2% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 70.2% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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

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

Industrial production growth rate:
4.9% (2017 est.)
country comparison to the world: 60
[see also: Industrial production growth rate country ranks ]

Labor force:
19.52 million (2017 est.)
country comparison to the world: 31
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 13%
[see also: Labor force - by occupation - industry country ranks ]
services: 6%
[see also: Labor force - by occupation - services country ranks ]
industry and services: 76%
manufacturing: 3% (2006 est.)

Unemployment rate:
6.3% (2017 est.)
7% (2016 est.)
country comparison to the world: 94
[see also: Unemployment rate country ranks ]

Population below poverty line:
9.4% (2008 est.)
note: this figure is the Low Income Cut-Off, a calculation that results in higher figures than found in many comparable economies; Canada does not have an official poverty line
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 24.8% (2000)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
32.1 (2005)
31.5 (1994)
country comparison to the world: 119
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 649.6 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 665.7 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
39.3% (of GDP) (2017 est.)
country comparison to the world: 48
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1% (of GDP) (2017 est.)
country comparison to the world: 77
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
89.7% of GDP (2017 est.)
91.1% of GDP (2016 est.)
note: figures are for gross general government debt, as opposed to net federal debt; gross general government debt includes both intragovernmental debt and the debt of public entities at the sub-national level
country comparison to the world: 25
[see also: Public debt country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
1.6% (2017 est.)
1.4% (2016 est.)
country comparison to the world: 87
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1% (31 December 2010)
0.25% (31 December 2009)
country comparison to the world: 133
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
3.2% (31 December 2017 est.)
2.7% (31 December 2016 est.)
country comparison to the world: 172
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$748.9 billion (31 December 2017 est.)
$637.6 billion (31 December 2016 est.)
country comparison to the world: 9
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$748.9 billion (31 December 2017 est.)
$637.6 billion (31 December 2016 est.)
country comparison to the world: 9
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$3.219 trillion (31 December 2017 est.)
$2.802 trillion (31 December 2016 est.)
country comparison to the world: 8
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$1.593 trillion (31 December 2015 est.)
$2.095 trillion (31 December 2014 est.)
$2.114 trillion (31 December 2013 est.)
country comparison to the world: 7
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$48.75 billion (2017 est.)
-$49.32 billion (2016 est.)
country comparison to the world: 204
[see also: Current account balance country ranks ]

Exports:
$423.5 billion (2017 est.)
$393.5 billion (2016 est.)
country comparison to the world: 11
[see also: Exports country ranks ]

Exports - partners:
US 76.4%, China 4.3% (2017)

Exports - commodities:
motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum

Imports:
$442.1 billion (2017 est.)
$413.4 billion (2016 est.)
country comparison to the world: 12
[see also: Imports country ranks ]

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

Imports - partners:
US 51.5%, China 12.6%, Mexico 6.3% (2017)

Reserves of foreign exchange and gold:
$86.68 billion (31 December 2017 est.)
$82.72 billion (31 December 2016 est.)
country comparison to the world: 28
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.608 trillion (31 March 2016 est.)
$1.55 trillion (31 March 2015 est.)
country comparison to the world: 13
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$1.039 trillion (31 December 2017 est.)
$1.004 trillion (31 December 2016 est.)
country comparison to the world: 10
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$1.371 trillion (31 December 2017 est.)
$1.277 trillion (31 December 2016 est.)
country comparison to the world: 11
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Canadian dollars (CAD) per US dollar -
1.308 (2017 est.)
1.3256 (2016 est.)
1.3256 (2015 est.)
1.2788 (2014 est.)
1.0298 (2013 est.)