Economy Stats: compare key data on Canada & Christmas Island

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STAT	Canada	Christmas Island	HISTORY
Agriculture > Products	wheat, barley, oilseed, tobacco, fruits, vegetables; dairy products; fish; forest products	NA
Currency	Canadian dollar	Australian dollar
Overview	As a 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, highly 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. Canada achieved marginal growth in 2010-12 and plans to balance the budget by 2015. In addition, the country's petroleum sector is rapidly becoming an even larger economic driver with Alberta's oil sands significantly boosting Canada's proven oil reserves, ranking the country third in the world behind Saudi Arabia and Venezuela.	The main economic activities on Christmas Island are the mining of low grade phosphate, limited tourism, the provision of government services and more recently the construction and operation of the Immigration Detention Center. The government sector includes administration, health, education, policing, customs, quarantine and defense.
Exchange rates	Canadian dollars (CAD) per US dollar -<br />1 (2012 est.)<br />0.99 (2011 est.)<br />1.03 (2010 est.)<br />1.14 (2009)<br />1.04 (2008)	Australian dollars (AUD) per US dollar -<br />0.97 (2012)<br />0.97 (2011)<br />1.09 (2010)<br />1.28 (2009)<br />1.21 (2008)
Exports > Commodities	motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum	phosphate
Fiscal year	1	1
Imports > Commodities	machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods	consumer goods
Industries	transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas	tourism, phosphate extraction (near depletion)
Trade > Exports to US	$55.66 billion Ranked 1st. 556640 times more than Christmas Island	$100,000.00 Ranked 207th.
Trade balance with US	$-14,500,000,000.00 Ranked 222nd.	$200,000.00 Ranked 95th.

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