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Find what you need to know about Economy of Canada.
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Canada is one of the
world's wealthiest nations, with a high per-capita income, and it is a member of
the Organisation for Economic Co-operation and Development (OECD) and the G8. It
is one of the world's top ten trading nations. Canada is a mixed market, ranking
above the U.S. on the Heritage Foundation's index of economic freedom but higher
than most western European nations. The largest foreign importers of Canadian
goods are the United States, the United Kingdom, and Japan. In 2008, Canada's
imported goods were worth over $442.9 billion, of which $280.8 billion was from
the United States, $11.7 billion from Japan, and $11.3 billion from the United
Kingdom.
As of October 2009, Canada's national unemployment rate was 8.6%. Provincial
unemployment rates vary from a low of 5.8% in Manitoba to a high of 17% in
Newfoundland and Labrador. As of 2008, Canada’s total government debt burden is
the lowest among the G8. The OECD projects that Canada's debt-to-GDP ratio will
decline to 19.5% in 2009, which is less than half of the projected average of
51.9% for all G8 countries. According to these projections, Canada's debt burden
will have fallen by more than 50 percentage points from its peak in 1995, when
it was the second-highest in the G8. In 2008–09, the federal debt increased by
$6.1 billion to $463.7 billion. In the past century, the growth of the
manufacturing, mining, and service sectors has transformed the nation from a
largely rural economy to a more industrial and urban one. Like other First World
nations, the Canadian economy is dominated by the service industry, which
employs about three quarters of Canadians. Canada is unusual among developed
countries in the importance of its primary sector, in which the logging and
petroleum industries are two of the most important.
Canada is one of the few developed nations that are net exporters of energy.
Atlantic Canada has vast offshore deposits of natural gas, and Alberta has large
oil and gas resources. The immense Athabasca Oil Sands give Canada the world's
second-largest oil reserves, behind Saudi Arabia.
Canada is one of the world's largest suppliers of agricultural products; the
Canadian Prairies are one of the most important producers of wheat, canola, and
other grains. Canada is the largest producer of zinc and uranium, and is a
global source of many other natural resources, such as gold, nickel, aluminium,
and lead. Many towns in northern Canada, where agriculture is difficult, are
sustainable because of nearby mines or sources of timber. Canada also has a
sizable manufacturing sector centred in southern Ontario and Quebec, with
automobiles and aeronautics representing particularly important industries.
Economic integration with the United States has increased significantly since
World War II. This has drawn the attention of Canadian nationalists, who are
concerned about cultural and economic autonomy in an age of globalization, as
American goods and media products have become ubiquitous. The Automotive
Products Trade Agreement of 1965 opened the borders to trade in the auto
manufacturing industry. In the 1970s, concerns over energy self-sufficiency and
foreign ownership in the manufacturing sectors prompted Prime Minister Pierre
Trudeau's Liberal government to enact the National Energy Program (NEP) and the
Foreign Investment Review Agency (FIRA).
In the 1980s, Prime Minister Brian Mulroney's Progressive Conservatives
abolished the NEP and changed the name of FIRA to "Investment Canada" in order
to encourage foreign investment. The Canada – United States Free Trade Agreement
(FTA) of 1988 eliminated tariffs between the two countries, while the North
American Free Trade Agreement (NAFTA) expanded the free-trade zone to include
Mexico in the 1990s. In the mid-1990s, the Liberal government under Jean
Chrétien began to post annual budgetary surpluses and steadily paid down the
national debt. The 2008 global financial crisis caused a recession, which could
boost the country's unemployment rate to 10%.
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Economy of Canada :
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Fishing in Canada
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Forestry in Canada
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Goods manufactured in Canada
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International trade of Canada
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Mining in Canada
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Petroleum production in Canada
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Real estate in Canada
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Retailing in Canada
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Stock exchanges in Canada
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Tourism in Canada
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A-Z Business Listings :
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Canada Business
Canada Business is a cross-jurisdictional
government organization that helps Canadian entrepreneurs get the information,
advice and support they need to build their businesses.
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Canada's Economic Action Plan
Canada’s Economic Action Plan is the Government’s
response to the deepest global recession since the Second World War. In January
2009, the Government introduced one of the most comprehensive stimulus packages
in the industrialized world. At that time, there was considerable concern about
the potential effect of the global recession on the Canadian economy and on
Canadian workers and families.
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Canada International
Whether you are travelling or immigrating to
Canada, preparing to do business in Canada, or want to know more about Canada
and its role in the world, Canada International is your one-stop source of
information.
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Canadian Association for Business Economics
The Canadian Association for Business Economics
(CABE) is an association of professionals active in the field of business
economics. CABE is a national organization with local chapters. Links on this
web site point to the local chapters and to other information of use to the
business economist.
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Canadian Business
We are a business news and information portal for
business leaders, entrepreneurs and investors, powered by Canadian Business,
MoneySense and PROFIT.
Business news, views and reviews: the same writers you have come to respect and
trust in Canadian Business magazine now write for Canadian Business Online as
well. We provide our analysis and perspective on the economic, trade,
managerial, leadership, technology and career issues facing Canada's business
leaders today. But we're not all about work — we also turn our critical eye to
the smartest ways to build your fortune, and how to best enjoy it.
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Canadian Council of Chief Executives
The Canadian Council of Chief Executives (CCCE) is
an organization in Canada of chief executive officers of roughly 150 major
Canadian corporations. The organization was founded in 1976 as the Business
Council on National Issues, but renamed itself in 2001. The council actively
comments on public policy in Canada. Member CEOs lead companies that
collectively administer $3.5 trillion Canadian dollars in assets, and more than
$800 billion CAD in annual revenues. The Chief Executive and President of the
organization is Thomas d'Aquino.
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Canadian International Development Agency
The Canadian International Development Agency
(CIDA) was formed in 1968 by the Canadian government. CIDA administers foreign
aid programs in developing countries, and operates in partnership with other
Canadian organizations in the public and private sectors as well as other
international organizations. It reports to the Parliament of Canada through the
minister for International Cooperation. Its mandate is to "support sustainable
development in developing countries in order to reduce poverty and contribute to
a more secure, equitable, and prosperous world."
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The Conference Board of Canada
The Conference Board builds leadership capacity for
a better Canada by creating and sharing insights on economic trends, public
policy and organizational performance.
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Department of Finance Canada
Finance Canada plans and prepares the federal
government's budget, analyzes and designs tax policies, and develops rules and
regulations for Canada's financial institutions.
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Economic Club of Canada
In just five years The Economic Club of Canada has
earned a prestigious reputation as THE Podium of Record. Uniquely positioned as
the only national non-partisan organization capable of staging events across the
country, our mission is to bring our members and guests face-to-face with the
most important, relevant and influential leaders of our time. The Economic Club
has grown in stature and reputation as the most respected and influential
platform of its kind.
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Economic Developers Association of Canada
The Economic Developers Association of Canada
(EDAC) is Canada's national organization of Economic Developers pursuing
excellence in the field since 1968. The Association's mission is to enhance the
professional competence of Economic Development officers and ensure placement of
qualified people in the field of Economic Development; to advance Economic
Development as a distinct, recognized, and self-governing profession; and to
contribute to Canada's economic well-being. EDAC is an eager partner with
municipalities nation wide.
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Edmonton Economic Development Corporation
Edmonton Economic Development Corporation (EEDC) is
a not-for-profit company owned by the City of Edmonton. Its purpose is to
promote Edmonton economic development, tourism and manage the Shaw Conference
Centre and Edmonton Research Park.
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Export Development Canada
Export Development Canada (EDC) is Canada's export
credit agency, and a Crown corporation that provides financing and risk
management services to Canadian exporters and investors in up to 200 markets
worldwide. EDC and the Canadian Commercial Corporation are the two Crown
corporations responsible for facilitating international trade.
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Infrastructure Canada
Infrastructure Canada is part of the Transport,
Infrastructure and Communities portfolio of the Government of Canada.
Established in August 2002, the organization was formerly associated with
Treasury Board Secretariat, the Privy Council Office, Industry Canada, and
Environment Canada. The organization's goal is to improve the infrastructure of
Canada by working with other levels of government including provincial,
territorial, municipal, First Nations and the private sector. The Minister of
Transport, Infrastructure and Communities is responsible for the department. The
current Minister is the Honourable John Baird.
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Invest in Canada
With a strong, stable, dynamic economy, world-class
infrastructure and leading- edge research and development capabilities, Canada
is attracting the attention of global businesses and investors alike. Whether
you are considering business expansion or new North American investment
opportunities, Canada should be top of mind as your investment destination of
choice.
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Statistics Canada
Statistics Canada (French: Statistique Canada) is
the Canadian federal government agency commissioned with producing statistics to
help better understand Canada, its population, resources, economy, society, and
culture. The bureau is commonly called StatCan or StatsCan although StatCan is
the official abbreviation. It has regularly been considered the best statistical
organization in the world by The Economist, such as in the 1991 and 1993 "Good
Statistics" surveys. Public Policy Forum and others have also ranked it first.
Statistics is a federal responsibility in Canada and Statistics Canada produces
statistics for all the provinces as well as the federal government. In addition
to conducting about 350 active surveys on virtually all aspects of Canadian
life, Statistics Canada undertakes a country-wide census every five years on the
first and sixth year of each decade. By law, every household must complete the
census form. The last Canadian census was held in May 2006, when an Internet
version was made widely available for the first time.
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Waterloo Region Economic Development
Canada's Technology Triangle Inc (CTT) is a
not-for-profit, public-private regional economic development partnership that
markets the competitive advantages of the Waterloo Region to the world, and
works to attract new businesses, investment and talent to the Region. As an
information provider and business network facilitator, CTT is typically the
first point of contact for enterprises outside the Waterloo Region interested in
start-up, expansion, or relocation to the Waterloo Region. CTT's activity
complements its partner municipalities, who focus on local business retention
and expansion.
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Western Economic Diversification Canada
Western Economic Diversification Canada (WD)
(French: Diversification de l'économie de l'Ouest Canada (DEO)) is a department
in the Government of Canada which has responsibility for promoting the
development and diversification of the economy of Western Canada. It was
established in 1987 under the provision of the Western Economic Diversification
Act. WD works to improve the long-term economic competitiveness of the West and
the quality of life of its citizens by supporting a wide range of initiatives
targeting three inter-related strategic outcomes - innovation, policy, advocacy
& coordination, business development and entrepreneurship, and community
economic development. Together, these priorities create a foundation to build
the prosperity and competitiveness of the West in the 21st century.
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