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Why Invest?Country ProfileCity List |
Canada » Introduction Basic Economic Facts
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| GDP | $1.077 trillion (2006) |
| GDP per head | $34,273 (2006) |
| Annual Growth | 2.9% |
| Major Industries | Transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas |
| Major Trading Partners | US, Japan, Uk |
In the last century, 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. As with other first world nations, the Canadian economy is dominated by the service industry, which employs about three quarters of Canadians.However, Canada is unusual among developed countries in the importance of the primary sector, with the logging and oil industries being two of Canada's most important.
In part due to the large primary sector Canada is highly dependent on international trade, especially trade with the United States. The 1989 Canada-U.S. Free Trade Agreement (FTA) and 1994 North American Free Trade Agreement (NAFTA) (which included Mexico) touched off a dramatic increase in trade and economic integration with the U.S. Since 2001, Canada has successfully avoided economic recession and has maintained the best overall economic performance in the G8.
