Canada - Economic Indicators
Global Outlook: Candles in the Wind
Feb 06, 2023
View the Moody's Analytics Global Forecast. The global economy will slow in 2023, but recession odds have receded slightly. China’s reopening, a mild European winter, and a resilient U.S. labour market are reasons for optimism. The assumption that the global wave of monetary policy tightening being near its end is predicated on inflation continuing to cool over 2023; risks of reaccelerating inflation are nontrivial. The global economy will...
| GDP | Reference | Last | Previous | Units | Frequency |
|---|---|---|---|---|---|
| Private Consumption | 2022 Q3 | 1,483,612 | 1,476,568 | Mil. CAD, SAAR | Quarterly |
| Real Private Consumption | 2022 Q3 | 1,226,392 | 1,229,469 | Mil. Ch. 2012 CAD, SAAR | Quarterly |
| Government Consumption | 2022 Q3 | 584,848 | 576,136 | Mil. CAD, SAAR | Quarterly |
| Nominal Gross Domestic Product | 2022 Q3 | 2,810,784 | 2,830,124 | Mil. CAD, SAAR | Quarterly |
| Real Government Consumption | 2022 Q3 | 462,759 | 456,786 | Mil. Ch. 2012 CAD, SAAR | Quarterly |
| Real Gross Domestic Product | 2022 Q3 | 2,189,065 | 2,173,241 | Mil. Ch. 2012 CAD, SAAR | Quarterly |
| Real Fixed Investment (gross fixed capital formation) | 2017 | 421,029,650,800 | 409,464,857,900 | NCU | Annual |
| Real Investment | 2017 | 438,698,576,200 | 413,163,302,200 | NCU | Annual |
| Nominal Fixed Investment (gross fixed capital formation) | 2017 | 493,199,000,000 | 472,419,000,000 | NCU | Annual |
| Investment | 2017 | 508,391,000,000 | 471,932,000,000 | NCU | Annual |
| Price | Reference | Last | Previous | Units | Frequency |
| Consumer Price Index (CPI) | Dec 2022 | 154.3 | 154.4 | Index 2002=100, SA | Monthly |
| Producer Price Index (PPI) | Dec 2022 | 127.2 | 128.6 | Index Jan2020=100, NSA | Monthly |
| Labor | Reference | Last | Previous | Units | Frequency |
| Unemployment | Dec 2022 | 1,036 | 1,049 | Ths. #, SA | Monthly |
| Labor Force Employment | Dec 2022 | 19,770 | 19,666 | Ths. #, SA | Monthly |
| Labor Force | Dec 2022 | 20,807 | 20,715 | Ths. #, SA | Monthly |
| Unemployment Rate | Dec 2022 | 5 | 5.1 | %, SA | Monthly |
| Total Employment | Dec 2022 | 19,770 | 19,666 | Ths. #, SA | Monthly |
| Agriculture Employment | Oct 2022 | 262.4 | 258.6 | Ths. persons, SA | Monthly |
| Wage & Salaries | Sep 2022 | 101,820,446 | 100,861,589 | Ths. CAD, SA | Monthly |
| Trade | Reference | Last | Previous | Units | Frequency |
| Exports of Goods | Dec 2022 | 62,752 | 64,481 | Mil. CAD, NSA | Monthly |
| Imports of Goods | Dec 2022 | 58,410 | 62,887 | Mil. CAD, NSA | Monthly |
| Current Account Balance | 2022 Q3 | -11,101 | 2,645 | Mil. CAD, SA | Quarterly |
| Balance of Goods | 2022 Q3 | 1,679 | 10,379 | Mil. CAD, SA | Quarterly |
| Exports of Goods and Services | 2022 Q3 | 949,700 | 974,684 | Mil. CAD, SAAR | Quarterly |
| Imports of Goods and Services | 2022 Q3 | 965,656 | 951,064 | Mil. CAD, SAAR | Quarterly |
| Real Imports of Goods and Services | 2022 Q3 | 722,721 | 725,433 | Mil. Ch. 2012 CAD, SAAR | Quarterly |
| Real Exports of Goods and Services | 2022 Q3 | 658,827 | 645,400 | Mil. Ch. 2012 CAD, SAAR | Quarterly |
| Real Net Exports | 2022 Q3 | -63,894 | -80,033 | Mil. Ch. 2012 CAD, SAAR | Quarterly |
| Net Exports | 2022 Q3 | -15,956 | 23,620 | Mil. CAD, SAAR | Quarterly |
| Government | Reference | Last | Previous | Units | Frequency |
| Government Expenditures | 2022 Q3 | 1,131,616 | 1,103,688 | Mil. CAD, SAAR | Quarterly |
| Government Revenues | 2022 Q3 | 1,124,356 | 1,121,240 | Mil. CAD, SAAR | Quarterly |
| Government Budget Balance | 2022 Q3 | -18,236 | 3,100 | Mil. CAD, SAAR | Quarterly |
| Outstanding Public Debt | 2022 Q3 | 1,641,822 | 1,642,532 | Mil. CAD, NSA | Quarterly |
| Markets | Reference | Last | Previous | Units | Frequency |
| Monetary Policy Rate | 09 Feb 2023 | 4.5 | 4.5 | %, NSA | Business Daily |
| Lending Rate | 09 Feb 2023 | 4.75 | 4.75 | %, NSA | Business Daily |
| Average Long-term Government Bond | 07 Feb 2023 | 3.12 | 3.08 | %, NSA | Business Daily |
| Stock Market Index | 07 Feb 2023 | 20,725 | 20,628 | Index, NSA | Daily |
| Treasury Bills (over 31 days) | 06 Feb 2023 | 4.41 | 4.36 | %, NSA | Business Daily |
| Money Market Rate | 03 Feb 2023 | 4.5 | 4.5 | %, NSA | Business Daily |
| Household Lending Rate | Sep 2019 | 10 | 10 | %, NSA | Monthly |
| Real Estate | Reference | Last | Previous | Units | Frequency |
| House Price Value for Existing Homes | Dec 2022 | 294.86 | 298.21 | Index Jun 2005=100, NSA | Monthly |
| Residential Building Permits | Dec 2022 | 19,346 | 21,754 | #, SA | Monthly |
| Building Permits | Dec 2022 | 10,287,408 | 11,093,338 | Ths. CAD, SA | Monthly |
| House Price Index for New Homes | Dec 2022 | 125.5 | 125.5 | Index Dec2016=100, NSA | Monthly |
| House Price Index | Dec 2022 | 125.85 | 125.49 | Index Dec2016=100, SA | Monthly |
| Building Completions | 2022 Q4 | 56,690 | 58,114 | #, NSA | Quarterly |
| Housing Starts | Dec 2022 | 248.62 | 263.02 | Ths. #, SAAR | Monthly |
| Dwelling Stocks | 2021 | 16,284,235 | # | Annual | |
| Consumer | Reference | Last | Previous | Units | Frequency |
| Retail Sales | Nov 2022 | 61,787,129 | 61,840,723 | Ths. CAD, SA | Monthly |
| Real Retail Sales | Nov 2022 | 51,394 | 51,607 | Mil. Ch. 2012 CAD, SA | Monthly |
| Personal Income | 2022 Q3 | 1,794,988 | 1,779,076 | Mil. CAD, SAAR | Quarterly |
| Consumer Confidence | Jun 2022 | 97.83 | 98.57 | Index Long term avg=100, SA | Monthly |
| Business | Reference | Last | Previous | Units | Frequency |
| Purchasing Managers index | Jan 2023 | 54.7 | 40.6 | Index=50, NSA | Monthly |
| Industrial Production | Nov 2022 | 407,861 | 407,580 | Mil. 2012 CAD, SAAR | Monthly |
| Change in Inventories | 2017 | 15,192,000,000 | -487,000,000 | NCU | Annual |
| Real Change in Inventories | 1970 | 252,605,600 | NCU | Annual | |
| Demographics | Reference | Last | Previous | Units | Frequency |
| Population | 2022 Q4 | 39,292,355 | 38,929,902 | #, NSA | Quarterly |
| Births | 2022 Q3 | 98,438 | 93,563 | #, NSA | Quarterly |
| Deaths | 2022 Q3 | 76,651 | 77,886 | #, NSA | Quarterly |
| Birth Rate | 2020 | 9.4 | 9.9 | # per Ths. pop. | Annual |
| Death Rate | 2020 | 8.1 | 7.6 | # per Ths. pop. | Annual |
| Net Migration | 2017 | 1,100,000 | # | Annual |
Factbook
Background
Background:
A land of vast distances and rich natural resources, Canada became a self-governing dominion in 1867, while retaining ties to the British crown. Canada repatriated its constitution from the UK in 1982, severing a final colonial tie. Economically and technologically, the nation has developed in parallel with the US, its neighbor to the south across the world's longest international border. Canada faces the political challenges of meeting public demands for quality improvements in health care, education, social services, and economic competitiveness, as well as responding to the particular concerns of predominantly francophone Quebec. Canada also aims to develop its diverse energy resources while maintaining its commitment to the environment.
Geography
Location:
Northern North America, bordering the North Atlantic Ocean on the east, North Pacific Ocean on the west, and the Arctic Ocean on the north, north of the conterminous US
Geographic coordinates:
60 00 N, 95 00 W
Map references:
North America
Area:
total: 9,984,670 sq km
land: 9,093,507 sq km
water: 891,163 sq km
country comparison to the world: 3
Area - comparative:
slightly larger than the US
Land boundaries:
total: 8,893 km
border countries (1): US 8,893 km (includes 2,477 km with Alaska)
note: Canada is the world's largest country that borders only one country
Coastline:
202,080 km
note: the Canadian Arctic Archipelago - consisting of 36,563 islands, several of them some of the world's largest - contributes to Canada easily having the longest coastline in the world
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm
continental shelf: 200 nm or to the edge of the continental margin
Climate:
varies from temperate in south to subarctic and arctic in north
Terrain:
mostly plains with mountains in west, lowlands in southeast
Elevation:
mean elevation: 487 m
elevation extremes: lowest point: Atlantic Ocean 0 m
highest point: Mount Logan 5,959 m
Natural resources:
iron ore, nickel, zinc, copper, gold, lead, rare earth elements, molybdenum, potash, diamonds, silver, fish, timber, wildlife, coal, petroleum, natural gas, hydropower
Land use:
agricultural land: 6.8%
arable land 4.7%; permanent crops 0.5%; permanent pasture 1.6%
forest: 34.1%
other: 59.1% (2011 est.)
Irrigated land:
8,700 sq km (2012)
Population - distribution:
vast majority of Canadians are positioned in a discontinuous band within approximately 300 km (180 mi) of the southern border with the United States; the most populated province is Ontario, followed by Quebec and British Columbia
Natural hazards:
continuous permafrost in north is a serious obstacle to development; cyclonic storms form east of the Rocky Mountains, a result of the mixing of air masses from the Arctic, Pacific, and North American interior, and produce most of the country's rain and snow east of the mountains
volcanism: the vast majority of volcanoes in Western Canada's Coast Mountains remain dormant
Environment - current issues:
metal smelting, coal-burning utilities, and vehicle emissions impacting agricultural and forest productivity; air pollution and resulting acid rain severely affecting lakes and damaging forests; ocean waters becoming contaminated due to agricultural, industrial, mining, and forestry activities
Environment - international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 85, Air Pollution-Sulfur 94, Antarctic-Environmental Protocol, Antarctic-Marine Living Resources, Antarctic Seals, Antarctic Treaty, Biodiversity, Climate Change, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands
signed, but not ratified: Air Pollution-Volatile Organic Compounds, Marine Life Conservation
Geography - note:
second-largest country in world (after Russia) and largest in the Americas; strategic location between Russia and US via north polar route; approximately 90% of the population is concentrated within 160 km (100 mi) of the US border; Canada has more fresh water than any other country and almost 9% of Canadian territory is water; Canada has at least 2 million and possibly over 3 million lakes - that is more than all other countries combined
People & Society
Population:
35,623,680 (July 2017 est.)
country comparison to the world: 38
Nationality:
noun: Canadian(s)
adjective: Canadian
Ethnic groups:
Canadian 32.2%, English 19.8%, French 15.5%, Scottish 14.4%, Irish 13.8%, German 9.8%, Italian 4.5%, Chinese 4.5%, North American Indian 4.2%, other 50.9%
note: percentages add up to more than 100% because respondents were able to identify more than one ethnic origin (2011 est.)
Languages:
English (official) 58.7%, French (official) 22%, Punjabi 1.4%, Italian 1.3%, Spanish 1.3%, German 1.3%, Cantonese 1.2%, Tagalog 1.2%, Arabic 1.1%, other 10.5% (2011 est.)
Religions:
Catholic 39% (includes Roman Catholic 38.8%, other Catholic .2%), Protestant 20.3% (includes United Church 6.1%, Anglican 5%, Baptist 1.9%, Lutheran 1.5%, Pentecostal 1.5%, Presbyterian 1.4%, other Protestant 2.9%), Orthodox 1.6%, other Christian 6.3%, Muslim 3.2%, Hindu 1.5%, Sikh 1.4%, Buddhist 1.1%, Jewish 1%, other 0.6%, none 23.9% (2011 est.)
Age structure:
0-14 years: 15.44% (male 2,819,279/female 2,680,024)
15-24 years: 11.85% (male 2,171,703/female 2,048,546)
25-54 years: 39.99% (male 7,227,145/female 7,020,156)
55-64 years: 14.1% (male 2,492,120/female 2,529,652)
65 years and over: 18.63% (male 2,958,721/female 3,676,334) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 47.3
youth dependency ratio: 23.5
elderly dependency ratio: 23.8
potential support ratio: 4.2 (2015 est.)
Median age:
total: 42.2 years
male: 40.9 years
female: 43.5 years (2017 est.)
country comparison to the world: 29
Population growth rate:
0.73% (2017 est.)
country comparison to the world: 141
Birth rate:
10.3 births/1,000 population (2017 est.)
country comparison to the world: 190
Death rate:
8.7 deaths/1,000 population (2017 est.)
country comparison to the world: 73
Net migration rate:
5.7 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 18
Population distribution:
vast majority of Canadians are positioned in a discontinuous band within approximately 300 km of the southern border with the United States; the most populated province is Ontario, followed by Quebec and British Columbia
Urbanization:
urban population: 82.2% of total population (2017)
rate of urbanization: 1.16% annual rate of change (2015-20 est.)
Major urban areas - population:
Toronto 5.993 million; Montreal 3.981 million; Vancouver 2.485 million; Calgary 1.337 million; OTTAWA (capital) 1.326 million; Edmonton 1.272 million (2015)
Sex ratio:
at birth: 1.06 male(s)/female
0-14 years: 1.05 male(s)/female
15-24 years: 1.06 male(s)/female
25-54 years: 1.03 male(s)/female
55-64 years: 0.98 male(s)/female
65 years and over: 0.8 male(s)/female
total population: 0.98 male(s)/female (2017 est.)
Mother's mean age at first birth:
28.1 years (2012 est.)
Maternal mortality ratio:
7 deaths/100,000 live births (2015 est.)
country comparison to the world: 161
Infant mortality rate:
total: 4.5 deaths/1,000 live births
male: 4.8 deaths/1,000 live births
female: 4.2 deaths/1,000 live births (2017 est.)
country comparison to the world: 180
Life expectancy at birth:
total population: 81.9 years
male: 79.3 years
female: 84.7 years (2017 est.)
country comparison to the world: 21
Total fertility rate:
1.6 children born/woman (2017 est.)
country comparison to the world: 183
Health expenditures:
10.4% of GDP (2014)
country comparison to the world: 20
Physicians density:
2.54 physicians/1,000 population (2015)
Hospital bed density:
2.7 beds/1,000 population (2012)
Drinking water source:
improved:
urban: 100% of population
rural: 99% of population
total: 99.8% of population
unimproved:
urban: 0% of population
rural: 1% of population
total: 0.2% of population (2015 est.)
Sanitation facility access:
improved:
urban: 100% of population
rural: 99% of population
total: 99.8% of population
unimproved:
urban: 0% of population
rural: 1% of population
total: 0.2% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
NA
HIV/AIDS - people living with HIV/AIDS:
NA
HIV/AIDS - deaths:
NA
Obesity - adult prevalence rate:
29.4% (2016)
country comparison to the world: 26
Education expenditures:
5.3% of GDP (2011)
country comparison to the world: 62
Unemployment, youth ages 15-24:
total: 13.1%
male: 14.8%
female: 11.3% (2016 est.)
country comparison to the world: 100
Government
Country name:
conventional long form: none
conventional short form: Canada
etymology: the country name likely derives from the St. Lawrence Iroquoian word "kanata" meaning village or settlement
Government type:
federal parliamentary democracy (Parliament of Canada) under a constitutional monarchy; a Commonwealth realm; federal and state authorities and responsibilities regulated in constitution
Capital:
name: Ottawa
geographic coordinates: 45 25 N, 75 42 W
time difference: UTC-5 (same time as Washington, DC, during Standard Time)
daylight saving time: +1hr, begins second Sunday in March; ends first Sunday in November
note: Canada has six time zones
Administrative divisions:
10 provinces and 3 territories*; Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories*, Nova Scotia, Nunavut*, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon*
Independence:
1 July 1867 (union of British North American colonies); 11 December 1931 (recognized by UK per Statute of Westminster)
National holiday:
Canada Day, 1 July (1867)
Constitution:
made up of unwritten and written acts, customs, judicial decisions, and traditions dating from 1763; the written part of the constitution consists of the Constitution Act of 29 March 1867, which created a federation of four provinces, and the Constitution Act of 17 April 1982; several amendments to the 1982 Constitution Act, last in 2011 (2016)
Legal system:
common law system except in Quebec, where civil law based on the French civil code prevails
International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: yes
citizenship by descent: yes
dual citizenship recognized: yes
residency requirement for naturalization: minimum of 3 of last 5 years resident in Canada
Suffrage:
18 years of age; universal
Executive branch:
chief of state: Queen ELIZABETH II (since 6 February 1952); represented by Governor General Julie PAYETTE (since 2 October 2017)
head of government: Prime Minister Justin Pierre James TRUDEAU (Liberal Party) (since 4 November 2015)
cabinet: Federal Ministry chosen by the prime minister usually from among members of his/her own party sitting in Parliament
elections/appointments: the monarchy is hereditary; governor general appointed by the monarch on the advice of the prime minister for a 5-year term; following legislative elections, the leader of the majority party or majority coalition in the House of Commons generally designated prime minister by the governor general
note: the governor general position is largely ceremonial; Julie PAYETTE, a former space shuttle astronaut, is Canada's fourth female governor general but the first to have flown in space
Legislative branch:
description: bicameral Parliament or Parlement consists of the Senate or Senat (105 seats; members appointed by the governor general on the advice of the prime minister and can serve until age 75) and the House of Commons or Chambre des Communes (338 seats; members directly elected in single-seat constituencies by simple majority vote with terms up to 4 years)
elections: House of Commons - last held on 19 October 2015 (next to be held in 2019)
election results: House of Commons - percent of vote by party - Liberal Party 39.5%, CPC 31.9%, NDP 19.7%, Bloc Quebecois 4.7%, Greens 3.4%, other .8%; seats by party - Liberal Party 184, CPC 99, NDP 44, Bloc Quebecois 3, Greens 1, independent 7
Judicial branch:
highest court(s): Supreme Court of Canada (consists of the chief justice and 8 judges); note - in 1949, Canada abolished all appeals beyond its Supreme Court, which prior to that time, were heard by the Judicial Committee of the Privy Council (in London)
judge selection and term of office: chief justice and judges appointed by the prime minister in council; all judges appointed for life with mandatory retirement at age 75
subordinate courts: federal level: Federal Court of Appeal; Federal Court; Tax Court; federal administrative tribunals; Courts Martial; provincial/territorial level: provincial superior, appeals, first instance, and specialized courts; in 1999, the Nunavut Court - a circuit court with the power of a provincial superior court, as well as a territorial court - was established to serve isolated settlements
Political parties and leaders:
Bloc Quebecois [Martine OUELLET]
Conservative Party of Canada or CPC [Andrew SCHEER]
Green Party [Elizabeth MAY]
Liberal Party [Justin TRUDEAU]
New Democratic Party or NDP [Jagmeet SINGH]
Political pressure groups and leaders:
other: agricultural sector; automobile industry; business groups; chemical industry; commercial banks; communications sector; energy industry; environmentalists; First Nations organizations; public administration groups; steel industry; trade unions
International organization participation:
ADB (nonregional member), AfDB (nonregional member), APEC, Arctic Council, ARF, ASEAN (dialogue partner), Australia Group, BIS, C, CD, CDB, CE (observer), EAPC, EBRD, EITI (implementing country), FAO, FATF, G-7, G-8, G-10, G-20, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IGAD (partners), IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINUSTAH, MONUSCO, NAFTA, NATO, NEA, NSG, OAS, OECD, OIF, OPCW, OSCE, Pacific Alliance (observer), Paris Club, PCA, PIF (partner), UN, UNCTAD, UNESCO, UNFICYP, UNHCR, UNMISS, UNRWA, UNTSO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO, ZC
Diplomatic representation in the US:
chief of mission: Ambassador David Brookes MACNAUGHTON (since 2 March 2016)
chancery: 501 Pennsylvania Avenue NW, Washington, DC 20001
telephone: [1] (202) 682-1740
FAX: [1] (202) 682-7726
consulate(s) general: Atlanta, Boston, Chicago, Dallas, Denver, Detroit, Los Angeles, Miami, Minneapolis, New York, San Francisco/Silicon Valley, Seattle
trade office(s): Houston, Palo Alto (CA), San Diego; note - there are trade offices in the Consulates General
Diplomatic representation from the US:
chief of mission: Ambassador Kelly CRAFT (since 23 October 2017)
embassy: 490 Sussex Drive, Ottawa, Ontario K1N 1G8
mailing address: P. O. Box 5000, Ogdensburg, NY 13669-0430; P.O. Box 866, Station B, Ottawa, Ontario K1P 5T1
telephone: [1] (613) 688-5335
FAX: [1] (613) 688-3082
consulate(s) general: Calgary, Halifax, Montreal, Quebec City, Toronto, Vancouver
consulate(s): Winnipeg
Flag description:
two vertical bands of red (hoist and fly side, half width) with white square between them; an 11-pointed red maple leaf is centered in the white square; the maple leaf has long been a Canadian symbol
National symbol(s):
maple leaf, beaver; national colors: red, white
National anthem:
name: "O Canada"
lyrics/music: Adolphe-Basile ROUTHIER [French], Robert Stanley WEIR [English]/Calixa LAVALLEE
note: adopted 1980; originally written in 1880, "O Canada" served as an unofficial anthem many years before its official adoption; the anthem has French and English versions whose lyrics differ; as a Commonwealth realm, in addition to the national anthem, "God Save the Queen" serves as the royal anthem (see United Kingdom)
Economy
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 sixth-largest oil producer.
The 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 and highly balanced bilateral trade and investment relationship, with merchandise trade of $544 billion in 2016, services trade of over $80 billion, and two-way investment stocks of nearly $700 billion. Over three-fourths of Canada’s 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. Since the fall in world oil prices in 2014, Canada has achieved modest economic growth.
GDP (purchasing power parity):
$1.764 trillion (2017 est.)
$1.712 trillion (2016 est.)
$1.687 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 18
GDP (official exchange rate):
$1.64 trillion (2017 est.)
GDP - real growth rate:
3% (2017 est.)
1.5% (2016 est.)
0.9% (2015 est.)
country comparison to the world: 117
GDP - per capita (PPP):
$48,100 (2017 est.)
$47,200 (2016 est.)
$47,100 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 34
Gross national saving:
19.9% of GDP (2017 est.)
19.6% of GDP (2016 est.)
20.4% of GDP (2015 est.)
country comparison to the world: 90
GDP - composition, by end use:
household consumption: 58.1%
government consumption: 20.9%
investment in fixed capital: 22.8%
investment in inventories: 0.3%
exports of goods and services: 31.4%
imports of goods and services: -33.6% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 1.7%
industry: 28.1%
services: 70.2% (2017 est.)
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:
4.8% (2017 est.)
country comparison to the world: 50
Labor force:
19.52 million (2017 est.)
country comparison to the world: 33
Labor force - by occupation:
agriculture: 2%
manufacturing: 13%
construction: 6%
services: 76%
other: 3% (2006 est.)
Unemployment rate:
6.5% (2017 est.)
7% (2016 est.)
country comparison to the world: 91
Population below poverty line:
9.4%
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 (2008 est.)
Household income or consumption by percentage share:
lowest 10%: 2.6%
highest 10%: 24.8% (2000 est.)
Distribution of family income - Gini index:
32.1 (2005 est.)
31.5 (1994 est.)
country comparison to the world: 117
Budget:
revenues: $623.7 billion
expenditures: $657.3 billion (2017 est.)
Taxes and other revenues:
38% of GDP (2017 est.)
country comparison to the world: 44
Budget surplus (+) or deficit (-):
-2% of GDP (2017 est.)
country comparison to the world: 84
Public debt:
98.2% of GDP (2017 est.)
99.4% 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: 18
Fiscal year:
1 April - 31 March
Inflation rate (consumer prices):
1.6% (2017 est.)
1.4% (2016 est.)
country comparison to the world: 68
Central bank discount rate:
1% (31 December 2010 est.)
0.25% (31 December 2009 est.)
country comparison to the world: 129
Commercial bank prime lending rate:
2.9% (31 December 2017 est.)
2.7% (31 December 2016 est.)
country comparison to the world: 170
Stock of narrow money:
$715.3 billion (31 December 2017 est.)
$637.3 billion (31 December 2016 est.)
country comparison to the world: 10
Stock of broad money:
$1.554 trillion (31 December 2017 est.)
$1.362 trillion (31 December 2016 est.)
country comparison to the world: 13
Stock of domestic credit:
$3.173 trillion (31 December 2017 est.)
$2.794 trillion (31 December 2016 est.)
country comparison to the world: 8
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: 8
Current account balance:
$-55.57 billion (2017 est.)
$-50.53 billion (2016 est.)
country comparison to the world: 199
Exports:
$433 billion (2017 est.)
$393.5 billion (2016 est.)
country comparison to the world: 12
Exports - commodities:
motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum
Exports - partners:
US 76.4%, China 4.1% (2016)
Imports:
$443.7 billion (2017 est.)
$413.4 billion (2016 est.)
country comparison to the world: 10
Imports - commodities:
machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods
Imports - partners:
US 52.2%, China 12.1%, Mexico 6.2% (2016)
Reserves of foreign exchange and gold:
$85.6 billion (31 December 2017 est.)
$82.72 billion (31 December 2016 est.)
country comparison to the world: 29
Debt - external:
$1.608 trillion (31 March 2016 est.)
$1.55 trillion (31 March 2015 est.)
country comparison to the world: 15
Stock of direct foreign investment - at home:
$1.045 trillion (31 December 2017 est.)
$1.004 trillion (31 December 2016 est.)
country comparison to the world: 12
Stock of direct foreign investment - abroad:
$1.366 trillion (31 December 2017 est.)
$1.277 trillion (31 December 2016 est.)
country comparison to the world: 11
Exchange rates:
Canadian dollars (CAD) per US dollar -
1.31 (2017 est.)
1.33 (2016 est.)
1.33 (2015 est.)
1.28 (2014 est.)
1.03 (2013 est.)
Energy
Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
643.2 billion kWh (2015 est.)
country comparison to the world: 7
Electricity - consumption:
516.6 billion kWh (2015 est.)
country comparison to the world: 7
Electricity - exports:
73.35 billion kWh (2016 est.)
country comparison to the world: 3
Electricity - imports:
9.303 billion kWh (2016 est.)
country comparison to the world: 27
Electricity - installed generating capacity:
147.6 million kW (2015 est.)
country comparison to the world: 9
Electricity - from fossil fuels:
26.3% of total installed capacity (2015 est.)
country comparison to the world: 188
Electricity - from nuclear fuels:
9.2% of total installed capacity (2015 est.)
country comparison to the world: 20
Electricity - from hydroelectric plants:
53.7% of total installed capacity (2015 est.)
country comparison to the world: 38
Electricity - from other renewable sources:
11.4% of total installed capacity (2015 est.)
country comparison to the world: 65
Crude oil - production:
3.679 million bbl/day (2016 est.)
country comparison to the world: 7
Crude oil - exports:
2.671 million bbl/day (2016 est.)
country comparison to the world: 5
Crude oil - imports:
892,500 bbl/day (2016 est.)
country comparison to the world: 11
Crude oil - proved reserves:
169.7 billion bbl (1 January 2017 est.)
country comparison to the world: 3
Refined petroleum products - production:
1.883 million bbl/day (2016 est.)
country comparison to the world: 11
Refined petroleum products - consumption:
2.379 million bbl/day (2016 est.)
country comparison to the world: 11
Refined petroleum products - exports:
991,600 bbl/day (2016 est.)
country comparison to the world: 9
Refined petroleum products - imports:
381,200 bbl/day (2016 est.)
country comparison to the world: 24
Natural gas - production:
149.9 billion cu m (2015 est.)
country comparison to the world: 5
Natural gas - consumption:
114.8 billion cu m (2015 est.)
country comparison to the world: 12
Natural gas - exports:
78.25 billion cu m (2015 est.)
country comparison to the world: 5
Natural gas - imports:
19.63 billion cu m (2015 est.)
country comparison to the world: 15
Natural gas - proved reserves:
2.182 trillion cu m (1 January 2017 est.)
country comparison to the world: 17
Carbon dioxide emissions from consumption of energy:
564 million Mt (2013 est.)
country comparison to the world: 12
Communications
Telephones - fixed lines:
total subscriptions: 15,155,520
subscriptions per 100 inhabitants: 42 (July 2016 est.)
country comparison to the world: 16
Telephones - mobile cellular:
total: 30.752 million
subscriptions per 100 inhabitants: 86 (July 2016 est.)
country comparison to the world: 41
Telephone system:
general assessment: excellent service provided by modern technology
domestic: comparatively low mobile penetration provides further room for growth; domestic satellite system with about 300 earth stations
international: country code - 1; submarine cables provide links to the US and Europe; satellite earth stations - 7 (5 Intelsat - 4 Atlantic Ocean and 1 Pacific Ocean, and 2 Intersputnik - Atlantic Ocean region) (2016)
Broadcast media:
2 public TV broadcasting networks, 1 in English and 1 in French, each with a large number of network affiliates; several private-commercial networks also with multiple network affiliates; overall, about 150 TV stations; multi-channel satellite and cable systems provide access to a wide range of stations including US stations; mix of public and commercial radio broadcasters with the Canadian Broadcasting Corporation (CBC), the public radio broadcaster, operating 4 radio networks, Radio Canada International, and radio services to indigenous populations in the north; roughly 1,119 licensed radio stations (2016)
Internet country code:
.ca
Internet users:
total: 31,770,034
percent of population: 89.8% (July 2016 est.)
country comparison to the world: 23
Transportation
National air transport system:
number of registered air carriers: 51
inventory of registered aircraft operated by air carriers: 879
annual passenger traffic on registered air carriers: 80,228,301
annual freight traffic on registered air carriers: 2,074,830,881 mt-km (2015)
Civil aircraft registration country code prefix:
C (2016)
Airports:
1,467 (2013)
country comparison to the world: 4
Airports - with paved runways:
total: 523
over 3,047 m: 21
2,438 to 3,047 m: 19
1,524 to 2,437 m: 147
914 to 1,523 m: 257
under 914 m: 79 (2017)
Airports - with unpaved runways:
total: 944
1,524 to 2,437 m: 75
914 to 1,523 m: 385
under 914 m: 484 (2013)
Heliports:
26 (2013)
Pipelines:
gas and liquid petroleum 110,000 km (2017)
Railways:
total: 77,932 km
standard gauge: 77,932 km 1.435-m gauge (2014)
country comparison to the world: 4
Roadways:
total: 1,042,300 km
paved: 415,600 km (includes 17,000 km of expressways)
unpaved: 626,700 km (2011)
country comparison to the world: 7
Waterways:
636 km (Saint Lawrence Seaway of 3,769 km, including the Saint Lawrence River of 3,058 km, shared with United States) (2011)
country comparison to the world: 77
Merchant marine:
total: 639
by type: bulk carrier 16, container ship 1, general cargo 88, oil tanker 15, other 519 (2017)
country comparison to the world: 32
Ports and terminals:
major seaport(s): Halifax, Saint John (New Brunswick), Vancouver
river and lake port(s): Montreal, Quebec City, Sept-Isles (St. Lawrence); Fraser River Port (Fraser); Hamilton (Lake Ontario)
oil terminal(s): Lower Lakes terminal
dry bulk cargo port(s): Port-Cartier (iron ore and grain),
container port(s): Montreal (1,446,000), Vancouver (3,054,000)(2015)
LNG terminal(s) (import): Saint John
Military & Security
Military expenditures:
0.99% of GDP (2016)
0.99% of GDP (2015)
1% of GDP (2014)
1% of GDP (2013)
1.12% of GDP (2012)
country comparison to the world: 114
Military branches:
Canadian Forces: Canadian Army, Royal Canadian Navy, Royal Canadian Air Force, Canadian Joint Operations Command (2015)
Military service age and obligation:
17 years of age for voluntary male and female military service (with parental consent); 16 years of age for Reserve and Military College applicants; Canadian citizenship or permanent residence status required; maximum 34 years of age; service obligation 3-9 years (2012)
Transnational Issues
Disputes - international:
managed maritime boundary disputes with the US at Dixon Entrance, Beaufort Sea, Strait of Juan de Fuca, and the Gulf of Maine, including the disputed Machias Seal Island and North Rock; Canada and the United States dispute how to divide the Beaufort Sea and the status of the Northwest Passage but continue to work cooperatively to survey the Arctic continental shelf; US works closely with Canada to intensify security measures for monitoring and controlling legal and illegal movement of people, transport, and commodities across the international border; sovereignty dispute with Denmark over Hans Island in the Kennedy Channel between Ellesmere Island and Greenland; commencing the collection of technical evidence for submission to the Commission on the Limits of the Continental Shelf in support of claims for continental shelf beyond 200 nm from its declared baselines in the Arctic, as stipulated in Article 76, paragraph 8, of the UN Convention on the Law of the Sea
Refugees and internally displaced persons:
refugees (country of origin): 8,228 (Colombia); 7,356 (China); 6,774 (Haiti) (2016)
Illicit drugs:
illicit producer of cannabis for the domestic drug market and export to US; use of hydroponics technology permits growers to plant large quantities of high-quality marijuana indoors; increasing ecstasy production, some of which is destined for the US; vulnerable to narcotics money laundering because of its mature financial services sector
