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Canada

Canada Economy Stats

Overview:

As an affluent, high-tech industrial society in the trillion-dollar class, Canada 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, its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its great natural resources, skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks, however, 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. During 2010, Canada's economy grew only 3%, due to decreased global demand and a highly valued Canadian dollar.

Definitions

  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget surplus > + or deficit > -: This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits.
  • Debt > Government debt > Public debt, share of GDP: Public debt as % of GDP (CIA).

    No date was available from the Wikipedia article, so we used the date of retrieval.

  • Exports: 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.
  • Exports per capita: 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. Figures expressed per capita for the same year.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • GDP: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP > Composition by sector > Industry: The gross domestic product (GDP) or value of all final goods produced by the industrial sector within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP per capita: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
  • Gross National Income: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
  • Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
STAT AMOUNT DATE RANK HISTORY
Budget > Revenues $690.30 billion 2013 9th out of 223
Budget surplus > + or deficit > - -3.3% of GDP 2012 105th out of 182
Debt > Government debt > Public debt, share of GDP 84.1 CIA 2014 22nd out of 153
Exports $462.90 billion 2012 12th out of 189
Exports per capita $13,271.03 2012 25th out of 189
Fiscal year 1 2013
GDP $1.82 trillion 2012 12th out of 177
GDP > Composition by sector > Industry 28.6% 2012 88th out of 217
GDP > Per capita $38,065.13 per capita 2007 14th out of 183
GDP > Per capita > PPP $42,300.00 2012 10th out of 188
GDP per capita $52,218.99 2012 8th out of 177
Gross National Income $682.00 billion 2001 8th out of 158
Population below poverty line 9.4% 2013 8th out of 8
Public debt 85.4% of GDP 2012 24th out of 149
Unemployment rate 7.3% 2012 59th out of 112

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 2010, 2011, 2012, 2013; Wikipedia: List of countries by public debt (List) (Public debt , The World Factbook , United States Central Intelligence Agency , accessed on March 21, 2013.); CIA World Factbooks 2010, 2011, 2012, 2013. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; All CIA World Factbooks 18 December 2003 to 18 December 2008; World Bank national accounts data, and OECD National Accounts data files.; CIA World Factbook 2010, 2011, 2012, 2013; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; CIA World Factbooks 18 December 2003 to 28 March 2011

Citation

"Canada Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/Canada/Economy

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Canada Economy Profiles (Subcategories)

Adjusted savings 3 Innovation 24
Aid 6 Intellectual property 8
Balance of payments 26 Interest payments 3
Budget 10 International tourism 14
Business 5 Investment 3
Changes in net 4 Market capitalization of listed companies 4
Commercial service 4 Merchandise 4
Commercial service imports 4 Merchandise imports 4
Commitment to Development Index 4 Micro 4
Companies 30 National accounts 102
Consumption 10 Natural gas 8
Currency 15 Net capital account 4
Current account balance 5 Net current transfers 4
Current transfers 4 Net current transfers from abroad 6
Debt 54 Net errors and omissions 4
Economic aid 3 Net income 4
Economic growth 8 Net income from abroad 6
Economic structure 4 Net incurrence of liabilities 3
Electricity 8 Net trade in goods 4
Entrepreneurship 12 Net trade in goods and services 4
Exports 3 Oil 10
External balance on goods and services 7 Portfolio investment 4
Final 20 Poverty 3
Financial sector 35 Poverty and inequality 8
Foreign direct investment 14 Productivity 6
GDP 42 Public expenditure 4
GDP growth 4 Purchasing power parity 11
GDP per capita 4 Reserves 6
GNI 12 Retail 3
Gold 4 Royalty and license fees 8
Goods 4 Savings 44
Goods imports 4 Service 4
Government 12 Service imports 4
Government debt 8 Services 10
Government deficits and debt 4 Spending 73
Government spending 5 Stock of direct foreign investment 6
Gross capital formation 10 Stocks traded 5
Gross domestic savings 6 Support and aid 6
Gross fixed capital formation 10 Tax 73
Gross national expenditure 9 Taxes 3
Gross savings 6 Total 9
Gross value added at factor cost 5 Tourism 21
High-technology 4 Tourism expenditures 5
Household final 23 Tourism receipts 5
Income 24 Tourist arrivals by region of origin 7
Income distribution 4 Trade 1673
Income payments 4 Trademark applications 3
Income receipts 4 Transnational corporations 4
Inequality 13 Welfare 5
Inflation 10
  • Canada ranked first for GDP per capita amongst Heavily indebted countries in 2012.
  • Canada ranked second for exports amongst Former British colonies in 2012.
  • Canada ranked #6 for GDP amongst Christian countries in 2012.
  • Canada ranked first for trade > exports to US globally in 2003.
  • Canada ranked first for budget > revenues amongst Sparsely populated countries in 2013.
  • Canada ranked first for economic freedom amongst NATO countries in 2013.
  • Canada ranked first for companies > listed domestic companies, total per million amongst High income OECD countries in 2012.
  • Canada ranked first for GDP > composition by sector > industry amongst Group of 7 countries (G7) in 2012.

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In response to Mohan Reddy, Canada is ninth in the world in oil production, producing 2,880,000 barrels of oil per day, and has the 11th–biggest natural gas reserves in the world, with 59.7 trillion cubic feet.

Canada’s oil consumption is 8th-highest in the world, at 2 million barrels per day, while its natural gas consumption is fifth, at 3.2 trillion cubic feet per year.

Canada is the second-biggest net consumer of energy per person behind the United States, with each Canadian consuming the equivalent of more than 8 tons of oil per year.

Posted on 31 May 2005

Ian Graham, Staff Editor

Ian Graham, Staff Editor

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Here are some of the figures for 2004:

2004 Industry Statistics
Please note: these numbers are estimates except where otherwise stated.
Capital Spending: Conventional $25.2 billion
Oil Sands $5.8 billion
Total $31.0 billion
Wells Drilled Oil: 4,700
Natural Gas: 16,000
Total (including Dry & Service): 23,920
Reserves at Year End: Conventional Oil: *
Surface Mining (Integrated Synthetic): *
In-situ bitumen: *
Natural Gas: *
Production: Conventional Oil: 1,409,000 barrels per day
Surface Mining – Integrated Synthetic: 465,000 barrels per day
In-situ bitumen: 532,000 barrels per day
Pentanes plus/condensate: 163,000 barrels per day
Crude oil & equivalent: 2,569,000 barrels per day
Natural Gas: 17.4 billion cubic feet per day
Prices: Crude Oil: WTI @ Cushing on Nymex: $41.40 (US$/bbl) (actual)
Natural Gas – Nymex Henry Hub $6.09 (US$/mmbtu) (actual)
Industry Revenues: Oil, Gas & By-products $83.0 billion
Payments to Governments: Royalties, Bonuses, Fees & Income Taxes $18 billion
Employment: Direct and Indirect 365,000
Total Employment Impact 500,000
Exports: Crude Oil: 1,611,000 barrels per day (actual)
Natural Gas: 9.7 billion cubic feet per day (actual)
Imports: Crude Oil: 963,000 barrels per day
Consumption:
Crude Oil & Products: 1,750,000 barrels per day
Natural Gas: 7.4 billion cubic feet per day
Refineries: Number: 20
Capacity: 1,960,000 barrels per day
* is not yet available for 2004. For the 2003 version of these figures, view the Canadian data for the past eight years.

Hope this helps.
George Ardies

Posted on 31 May 2005

George Ardies

George Ardies