Economy of Canada

Canada Economy
  • The fiscal year in Canada begins from April 1st, throughMarch 31st.

  • As per the year 2016 estimates, agriculture contributed 1.6%, industry contributed 27.7% and the service sector contributed 70.7% to the gross domestic product (GDP) of the country.

  • As per the year 2006 data, 2% of the labor force in Canada was engaged in agriculture, 13% in manufacturing, 6% in construction, 76% in services and 3% in other activities.

  • Agricultural products of the country include wheat, barley, oilseed, tobacco, fruits and vegetables; dairy products; fish and forest products.

  • Industries in Canada include, transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas.

ResourcesNatural resources found in Canada include iron ore, nickel, zinc, copper, gold, lead, rare earth elements, molybdenum, potash, diamonds, silver, fish, timber, wildlife, coal, petroleum, natural gas, and hydro-power.

International Trade
International TradeTotal exports for Canada were estimated at USD 462.9 billion in the year 2012. The country mostly exports motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity and aluminum. Its main export partners are USA, China, and United Kingdom.

Total imports into Canada were estimated at USD 474.8 billion in the year 2012. The country mostly imports machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity and durable consumer goods. Its main export partners are USA, China and Mexico.

Last Updated on: January 4th, 2018