gh-tech industrial society, newly entered in the
trillion dollar class, Canada closely 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. Given its great natural resources, skilled
labor force, and modern capital plant Canada enjoys solid economic
prospects. Solid fiscal management has produced a long-term budget
surplus which is substantially reducing the national debt, although
public debate continues over how to manage the rising cost of the
publicly funded healthcare system. Exports account for roughly a
third of GDP. Canada enjoys a substantial trade surplus with its
principal trading partner, the United States, which absorbs more
than 85% of Canadian exports.

GDP (purchasing power parity):
$1.023 trillion (2004 est.)

GDP - real growth rate:
2.4% (2004 est.)

GDP - per capita:
purchasing power parity - $31,500 (2004 est.)

GDP - composition by sector:
agriculture: 2.3%
industry: 26.4%
services: 71.3% (2004 est.)

Labor force:
17.37 million (2004)

Labor force - by occupation:
agriculture 3%, manufacturing 15%, construction 5%, services 74%,
other 3% (2000)

Unemployment rate:
7% (2004)

Population below poverty line:
NA

Household income or consumption by percentage share:
lowest 10%: 2.8%
highest 10%: 23.8% (1994)

Distribution of family income - Gini index:
31.5 (1994)

Inflation rate (consumer prices):
1.9% (2004 est.)

Investment (gross fixed):
19.4% of GDP (2004 est.)

Budget:
revenues: $151 billion
expenditures: $144 billion, including capital expenditures of NA
(2004 est.)

Public debt:
NA (2004 est.)

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

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

Industrial production growth rate:
2% (2004 est.)

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