View source for Economy of Canada

{{Short description|None}}
{{Use Canadian English|date=September 2017}}
{{Use mdy dates|date=January 2026}}
{{Infobox economy
| country = Canada
| image = Sunset Toronto Skyline Panorama Crop from Snake Island.jpg
| image_size = 300px
| caption = [[Toronto]], the [[financial centre]] of Canada
| currency = [[Canadian dollar]] (CAD, C$)
| year = April 1 – March 31
| organs = [[Organisation for Economic Co-operation and Development|OECD]], [[World Trade Organization|WTO]], [[G-20 major economies|G-20]], [[Group of Seven|G7]], [[United States–Mexico–Canada Agreement|USMCA]], [[Comprehensive and Progressive Agreement for Trans-Pacific Partnership|CPTPP]], [[Asia-Pacific Economic Cooperation|APEC]] and others
| group = {{plainlist|
* [[Developed country|Advanced economy]]<ref>{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/April/groups-and-aggregates |title=World Economic Outlook Database Groups and Aggregates Information  |publisher=[[International Monetary Fund]]}}</ref>
* [[World Bank high-income economy|High-income economy]]<ref>{{cite web |url=https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |title=World Band Country and Lending Groups |publisher=[[World Bank]] |website=datahelpdesk.worldbank.org |access-date=September 29, 2019}}</ref>
* [[Welfare state]]<ref name="Canada_welfare"/><ref name="Kenworthy"/>  
}}
| population = {{increase}} 41,575,585 (Q4, 2025)<ref>{{cite web |url=https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1710000901 |title=Population estimates, quarterly |publisher=[[Statistics Canada]] |website=statcan.gc.ca |date=March 19, 2025 }}</ref>
| gdp = {{plainlist|
* {{increase}} $2.284 trillion ([[GDP (nominal)|nominal]]; {{abbr|2025|2025 forecast}})<ref name="IMF DataMapper">{{cite web |url=https://www.imf.org/external/datamapper/profile/CAN |title=IMF DataMapper: Canada |website=[[International Monetary Fund]] |date=2025 |access-date=November 13, 2025}}</ref>
* {{increase}} $2.723 trillion ([[Purchasing power parity|PPP]]; {{abbr|2025|2025}})<ref name="IMF DataMapper"/> 
}}
| gdp rank = {{plainlist|
* [[List of countries by GDP (nominal)|10th (nominal; 2025)]]
* [[List of countries by GDP (PPP)|16th (PPP; 2025)]]
}}
| growth = {{plainlist|   
* {{Increase}} 1.5%&nbsp;(2023)<ref name="IMF DataMapper" />
* {{Increase}} 1.5%&nbsp;(2024)<ref name="IMF DataMapper" />
* {{Increase}} 1.4%&nbsp;({{abbr|2025|2025 forecast}})<ref name="IMF DataMapper" />
* {{Increase}} 1.6%&nbsp;({{abbr|2026f|2025 forecast}})<ref name="IMF DataMapper" />
}}
| per capita = {{plainlist|
* {{increase}} $58,244 (nominal; {{abbr|2026|2026 forecast}})<ref name="IMF DataMapper"/>
* {{increase}} $65,500 (PPP; {{abbr|2025|2025 forecast}})<ref name="IMF DataMapper"/> 
}}
| per capita rank = {{plainlist|
* [[List of countries by GDP per capita (nominal)|23rd (nominal; 2025)]]
* [[List of countries by GDP per capita (PPP)|30th (PPP; 2025)]]
}}
| sectors = {{plainlist|
*[[Primary sector of the economy|Agriculture]]: 1.6%
*[[Secondary sector of the economy|Industry]]: 28.2%
*[[Tertiary sector of the economy|Services]]: 70.2%
*(2017 est.)<ref name="CIAWFCA">{{Cite CIA World Factbook|country=Canada|access-date=October 8, 2019}}</ref>}}
| components = 
| inflation = {{increaseNegative}} 2.2% (12 month change – November 2025)<ref>{{Cite web |date= December 15, 2025 |title=The Daily — Consumer Price Index, November 2025 |url=https://www150.statcan.gc.ca/n1/daily-quotidien/251215/dq251215a-eng.htm |publisher=[[Statistics Canada]]}}</ref>
| poverty = {{increaseNegative}} 3.2% (official, 2022; [[Statistics Canada|StatCan]])<ref>{{Cite web |last=Government of Canada |first=Statistics Canada |date=April 26, 2024 |title=Canada's Official Poverty Dashboard of Indicators: Trends, April 2024 |url=https://www150.statcan.gc.ca/n1/pub/11-627-m/11-627-m2024020-eng.htm |access-date=October 15, 2024 |website=www150.statcan.gc.ca}}</ref>
| gini = {{increaseNegative}} 0.300 {{color|darkgreen|low}} (2023, StatCan)<ref>{{Cite web|url=https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110013401|title = Gini coefficients of adjusted market, total and after-tax income|date = May 1, 2025|access-date=January 27, 2026}}</ref>
| hdi = {{plainlist|
*{{increase}} 0.939 {{color|darkgreen|very high}} (2023)<ref name="UNHDR">{{Cite web |date=May 6, 2025 |title=Human Development Report 2025 |url=https://hdr.undp.org/system/files/documents/global-report-document/hdr2025reporten.pdf|url-status=live |archive-url=https://web.archive.org/web/20250506051232/https://hdr.undp.org/system/files/documents/global-report-document/hdr2025reporten.pdf |archive-date=May 6, 2025 |access-date=May 6, 2025 |publisher=[[United Nations Development Programme]]}}</ref> ([[List of countries by Human Development Index|16th]])
*{{increase}} 0.867 {{color|darkgreen|very high}} [[List of countries by inequality-adjusted HDI|IHDI (14th)]] (2023)<ref name="UNHDR"/>}}
| labor = {{plainlist|
*{{increase}} 21.34 million (2022)<ref>{{cite web |title=Labor force, total - Canada |url=https://data.worldbank.org/indicator/SL.TLF.TOTL.IN?locations=CA |website=data.worldbank.org}}</ref>
*{{increase}} 59.1% employment rate (September 2020)<ref name="LaborForce">{{cite web |url=https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410028701 |title=Labour force characteristics, monthly, seasonally adjusted and trend-cycle, last 5 months |publisher=Statistics Canada |website=statcan.gc.ca |date=June 27, 2018 |access-date=October 10, 2020}}</ref>}}
| occupations = 
| unemployment = {{plainlist|
*{{increaseNegative}} 6.8% (December 2025)<ref>{{Cite web |last=Government of Canada |first=Statistics Canada |date=January 9, 2026 |title=The Daily — Labour Force Survey, December 2025 |url=https://www150.statcan.gc.ca/n1/daily-quotidien/260109/dq260109a-eng.htm |website=www150.statcan.gc.ca}}</ref>
*{{increaseNegative}} 13.3% youth unemployment (December 2025; 15 to 24 year-olds)<ref>{{Cite web |last=Government of Canada |first=Statistics Canada |date=January 9, 2026 |title=The Daily — Labour Force Survey, December 2025 |url=https://www150.statcan.gc.ca/n1/daily-quotidien/260109/dq260109a-eng.htm |website=www150.statcan.gc.ca}}</ref>
*{{decreasePositive}} 1.2 million unemployed (December 2021)<ref name="LaborForce"/>}}
| average gross salary = [[List of American countries by monthly average wage|C$6,809 / US$4,975 monthly]]<ref>{{cite web | url=https://www.oecd-ilibrary.org/sites/7dab7e4b-en/index.html?itemId=/content/component/7dab7e4b-en | title=Home | date=April 9, 2025 | access-date=September 7, 2023 | archive-date=May 17, 2023 | archive-url=https://web.archive.org/web/20230517090019/https://www.oecd-ilibrary.org/sites/7dab7e4b-en/index.html?itemId=/content/component/7dab7e4b-en | url-status=dead }}</ref> (2022)
| average net salary = [[List of American countries by monthly average wage|C$5,065 / US$3,700 monthly]]<ref>{{cite book | url=https://read.oecd-ilibrary.org/taxation/taxing-wages-2023_8c99fa4d-en#page172 | title=Taxing Wages 2023: Indexation of Labour Taxation and Benefits in OECD Countries {{pipe}} READ online | date=April 25, 2023 | doi=10.1787/8c99fa4d-en | isbn=978-92-64-59193-6 }}</ref><ref>{{cite web | url=https://www.oecd-ilibrary.org/sites/8c99fa4d-en/1/3/1/6/index.html?itemId=/content/publication/8c99fa4d-en&_csp_=f4d3c57328afb7f1cbd530cb119213be&itemIGO=oecd&itemContentType=book | title=Home | date=April 25, 2023 }}</ref> (2022)
| industries = {{hlist| [[Material-handling equipment|Transportation equipment]]| [[chemicals]]| [[minerals]]| [[food products]]| [[wood]] and [[paper]]| [[fish products]]| [[petroleum]]| [[natural gas]] }}
| current account = {{decreasepositive}} $1.4 billion (Q3 2021)<ref>{{cite web |url=https://www150.statcan.gc.ca/n1/daily-quotidien/211129/dq211129a-eng.html |title=Canada's balance of international payments, third quarter 2021 |publisher=Statcan.gc.ca |access-date=January 20, 2021 }}{{Dead link|date=October 2022 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>
| exports = {{increasePositive}} US$727.8 billion (2024)<ref>{{cite web|url=https://data.worldbank.org/indicator/BX.GSR.GNFS.CD?locations=CA&most_recent_value_desc=true |title=Exports of goods and services (BoP, current US$) - Canada |date=2023 |publisher=The World Bank |access-date=July 27, 2024}}</ref>
| export-goods = [[Motor vehicle]]s and parts, [[Manufacturing|industrial]] machinery, [[aircraft]], [[telecommunications]] equipment; [[chemicals]], [[plastic]]s, [[fertilizer]]s; [[wood pulp]], [[Lumber|timber]], [[crude petroleum]], natural gas, electricity, aluminum
| export-partners = {{ublist| {{flag|United States}} (-) 76.4%| {{flag|European Union}} (-) 4.4%| {{flag|China}} (+) 3.8%| {{flag|United Kingdom}} (+) 3.6%| {{flag|Japan}} (-) 1.9%| Other 9.9%<ref name=wto>{{cite web|title=Canada – WTO Statistics Database|url=https://ttd.wto.org/en/profiles/canada}}</ref> }}
| imports = {{increasePositive}} US$733.7 billion (2024)<ref>{{cite web|url=https://data.worldbank.org/indicator/BM.GSR.GNFS.CD?locations=CA&most_recent_value_desc=true |title=Imports of goods and services (BoP, current US$) - Canada |date=2023 |publisher=The World Bank |access-date=July 27, 2024}}</ref>
| import-goods = Machinery and equipment, motor vehicles and parts, [[crude oil]], chemicals, [[electricity]], durable [[consumer goods]]
| import-partners = {{ublist| {{flag|United States}} (-) 47.6%| {{flag|China}} (-) 12.4%| {{flag|European Union}} (+) 11.8%| {{flag|Mexico}} (+) 6.0%| {{flag|Japan}} (+) 2.7%| Other 19.6% <ref>{{cite web | title=WTO Tariff and Trade Data - Official Global Trade Database | url=https://ttd.wto.org/en/profiles/canada }}</ref> }}
| FDI = {{plainlist| *Inward: $1.460 trillion (2022)<ref name="FDI stocks">{{cite web |url=https://data.oecd.org/fdi/fdi-stocks.htm#indicator-chart |access-date=February 7, 2024 |title=FDI stocks |website=OECD |language=en}}</ref>
*Outward: $2.096 trillion (2022)<ref name="FDI stocks"/> }}
| balance = −10% (of GDP) (2024 est.)<ref name="CIAWFCA"/>
| revenue = 485.9 billion (2024 est.)<ref name="CIAWFCA"/>
| expenses = 534.5 billion (2024 est.)<ref name="CIAWFCA"/>
| aid = ''donor'': [[Official development assistance|ODA]], US$7.8 billion (2022)<ref name="oecd-aid">{{cite web|url=https://www.oecd.org/dac/financing-sustainable-development/development-finance-standards/official-development-assistance.htm |title=Official development assistance (ODA) |website=[[OECD]] |access-date=January 10, 2023 |date=January 10, 2023 }}</ref>
| credit = {{plainlist|
* [[Standard & Poor's]]:<ref>{{cite web |title= Sovereigns rating list |publisher=Standard & Poor's |url=http://www.standardandpoors.com/ratings/sovereigns/ratings-list/en/eu/?subSectorCode=39 |access-date=January 14, 2012}}</ref><ref>{{cite web |title=S&P Global Ratings |url=https://www.edc.ca/content/dam/edc/en/non-premium/standard-and-poors-report.pdf |work=Export Development Canada|date=January 13, 2025|access-date=April 25, 2025}}</ref>
{{hlist|AAA |Outlook: Stable}}
* [[Moody's]]:Canada's Aaa rating and stable outlook was affirmed by Moody's on May 2, 2024.<ref>{{cite web |title=Moody's affirms Canada's Aaa rating|date=May 2, 2024 |url=https://ratings.moodys.com/ratings-news/420160 |access-date=April 25, 2025 |work=Moody's Ratings}}</ref>
{{hlist|Aaa |Outlook: Stable}}
* [[Fitch Group|Fitch]]:<ref name="fitch">{{Cite web| title = Fitch Affirms Canada at 'AA+'; Outlook Stable| access-date = April 25, 2025| url = https://www.fitchratings.com/research/sovereigns/fitch-affirms-canada-at-aa-outlook-stable-23-07-2024}}</ref>
{{hlist|AA+ |Outlook: Stable}}
}}
| reserves = US$122.9 billion (July 2024)<ref>{{Cite web |url=https://www.canada.ca/en/department-finance/services/publications/monthly-official-international-reserves/2024/07.html |title=Official International Reserves - July 4, 2024 |website=www.canada.ca |date=July 4, 2024 |access-date=July 27, 2024}}</ref><ref>{{Cite web|url=https://www.imf.org/external/np/sta/ir/IRProcessWeb/data/can/eng/curcan.htm|title=International Reserves and Foreign Currency Liquidity – CANADA |website=www.imf.org}}</ref>
| spelling = Oxford
}}
[[Canada]] has a [[Developed country|highly developed]] [[mixed economy]].<ref>{{cite book| author1-link=Peter A. Hall|last1=Hall |first1=Peter A.|last2 =Soskice |first2=David |author2-link=David Soskice |date=2001 |title=Varieties of Capitalism: The Institutional Foundations of Comparative Advantage |url=https://books.google.com/books?id=EU02HzYJeFsC&q=canada+a+market+economy |publisher=[[Oxford University Press]] |page=570 |isbn=9780191647703}}</ref><ref>{{Cite web|title=Capitalism in Canada|url=https://www.thecanadianencyclopedia.ca/en/article/capitalism-in-canada#:~:text=Canada%20has%20a%20%E2%80%9Cmixed%E2%80%9D%20economy|access-date=April 24, 2022|website=[[The Canadian Encyclopedia]]}}</ref><ref>{{Cite encyclopedia |title=Capitalism in Canada |url=https://www.thecanadianencyclopedia.ca/en/article/capitalism-in-canada#:~:text=Canada%20has%20a%20%E2%80%9Cmixed%E2%80%9D%20economy |first=Peter |last=Diekmeyer |encyclopedia=[[The Canadian Encyclopedia]] |date=June 11, 2020}}</ref> As of 2025, it is the [[List of countries by GDP (nominal)|ninth-largest]] in the world, with a [[nominal GDP]] of approximately {{US$|2.39&nbsp;trillion|link=yes}}.<ref name="IMFWEOCA">{{Cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/October/weo-report?c=924,&s=NGDP_R,NGDP_RPCH,NGDP,NGDPD,PPPGDP,NGDP_D,NGDPRPC,NGDPRPPPPC,NGDPPC,NGDPDPC,PPPPC,PPPSH,PPPEX,NID_NGDP,NGSD_NGDP,PCPI,PCPIPCH,PCPIE,PCPIEPCH,TM_RPCH,TMG_RPCH,TX_RPCH,TXG_RPCH,LUR,LP,GGR,GGR_NGDP,GGX,GGX_NGDP,GGXCNL,GGXCNL_NGDP,GGSB,GGSB_NPGDP,GGXONLB,GGXONLB_NGDP,GGXWDG,GGXWDG_NGDP,NGDP_FY,BCA,BCA_NGDPD,&sy=2021&ey=2028&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=World Economic Outlook Database, October 2024 Edition. (Canada) |publisher=[[International Monetary Fund]] |date=October 10, 2024 |access-date=November 11, 2024}}</ref> Its [[GDP per capita]] in purchasing power parity (PPP) [[international dollar]]s is about 27.5% lower than that of the highest-ranking G7 country.<ref>{{Cite web |last=IMF |date=October 22, 2024 |title=G7 GDP per capita 2024 |url=https://www.statista.com/statistics/1370625/g7-country-gdp-levels-per-capita/ |website=Statista |language=en}}</ref> Canada is one of the world's largest [[trading nation]]s, with a highly [[globalized]] economy.<ref>{{Cite web |url=https://unctad.org/topic/trade-analysis/chart-10-may-2021 |title=Evolution of the world's 25 top trading nations – Share of global exports of goods (%), 1978–2020 |publisher=[[United Nations Conference on Trade and Development]]}}</ref> In 2021, Canadian trade in goods and services reached $2.016&nbsp;trillion.<ref name="econ">{{cite journal |year=2021 |title=U.S.-Canada Trade Facts |url=https://ustr.gov/countries-regions/americas/canada |journal=Canada's State of Trade |edition=20 |publisher=Global Affairs Canada |issn=2562-8313}} [https://www.international.gc.ca/gac-amc/assets/pdfs/publications/State-of-Trade-2019_eng.pdf PDF version]</ref> [[Canada's exports]] totalled over $637&nbsp;billion, while its imported goods were worth over $631&nbsp;billion, of which approximately $391&nbsp;billion originated from the United States.<ref name="econ" /> In 2018, Canada had a [[trade deficit]] in goods of $22&nbsp;billion and a trade deficit in services of $25&nbsp;billion.<ref name="econ" />  The [[Toronto Stock Exchange]] is the [[List of stock exchanges|tenth-largest stock exchange]] in the world by [[market capitalization]], listing over 1,500 companies with a combined market capitalization of over {{US$|3&nbsp;trillion}}.<ref>{{cite web |title=Monthly Reports |url=https://www.world-exchanges.org/our-work/statistics |publisher=World Federation of Exchanges}}{{as of|2018|November|lc=y}}</ref>

Canada has a strong [[cooperative banking]] sector, with the world's highest per-capita membership in [[credit union]]s.<ref>{{Cite book |last1=Kobrak |first1=Christopher |url=https://books.google.com/books?id=yw9aDwAAQBAJ&pg=PA220 |title=From Wall Street to Bay Street: The Origins and Evolution of American and Canadian Finance |last2=Martin |first2=Joe |publisher=University of Toronto Press |year=2018 |isbn=978-1-4426-1625-7 |page=220}}</ref> It ranks low in the [[Corruption Perceptions Index]] (12th in 2023)<ref name="cpi">{{cite web |title=Corruption Perceptions Index (latest) |date=January 31, 2023 |url=https://www.transparency.org/en/cpi |access-date=January 31, 2023 |publisher=[[Transparency International]]}}</ref> and "is widely regarded as among the least corrupt countries of the world".<ref>{{Cite book |last1=Rotberg |first1=Robert I. |url=https://books.google.com/books?id=ujOoDwAAQBAJ&pg=PT12 |title=Canada's Corruption at Home and Abroad |last2=Carment |first2=David |publisher=Taylor & Francis |year=2018 |isbn=978-1-351-57924-7 |page=12}}</ref> It ranks high in the [[Global Competitiveness Report]] (11th in 2025)<ref name="rank 2019">{{Cite web |title=The World Competitiveness Report 2025 |date=June 10, 2024 |url=https://www.imd.org/centers/wcc/world-competitiveness-center/rankings/world-competitiveness-ranking/rankings/wcr-rankings/#_tab_Rank |accessdate=June 25, 2025}}</ref> and [[Global Innovation Index]]es (14th in 2025).<ref>{{Cite book |url=https://www.wipo.int/web-publications/global-innovation-index-2024/en/ |title=Global Innovation Index 2024 |last5=World Intellectual Property Organization |publisher=World Intellectual Property Organization |year=2024 |isbn= |edition=17th |language=en |doi=}}</ref> Canada's economy ranks above most [[Western nations]] on [[The Heritage Foundation]]'s [[Index of Economic Freedom]]<ref>{{cite web |year=2020 |title=Index of Economic Freedom |url=https://www.heritage.org/index/country/canada |access-date=May 8, 2021 |publisher=[[The Heritage Foundation]] |archive-date=April 20, 2021 |archive-url=https://web.archive.org/web/20210420111447/https://www.heritage.org/index/country/canada |url-status=unfit }}</ref> and experiences a relatively low level of [[Economic inequality|income disparity]].<ref>{{Cite web |url=https://www.credit-suisse.com/corporate/en/research/research-institute/global-wealth-report.html |publisher=[[Credit Suisse]] |title=Global Wealth Report |date=October 2018 |first1=Anthony |last1=Shorrocks |first2=Jim |last2=Davies |first3=Rodrigo |last3=Lluberas}}</ref> The country's average household [[disposable income]] per capita is "well above" the [[OECD]] average.<ref>{{cite news |url=https://www.oecdbetterlifeindex.org/countries/canada/#:~:text=In%20Canada%2C%20the%20average%20household%20net%20adjusted%20disposable%20income%20per,average%20of%20USD%2030%20490. |title=Canada |work=OECD Better Life Index |date=2021 |accessdate=August 5, 2022}}</ref> Canada ranks low amongst the most developed countries for [[Affordable housing in Canada|housing affordability]]<ref>{{cite web|author=Source: Prices: Analytical house price indicators |url=https://data.oecd.org/price/housing-prices.htm |title=Prices – Housing prices – OECD Data |publisher=Data.oecd.org |date= |accessdate=August 14, 2022}}</ref><ref name="nationalpost 2022" /> and  [[foreign direct investment]].<ref>{{cite journal|url=https://journalhosting.ucalgary.ca/index.php/sppp/article/view/72311/55149 |title=View of 2020 TAX COMPETITIVENESS REPORT: CANADA'S INVESTMENT CHALLENGE |year=2021 |publisher=Journalhosting.ucalgary.ca |doi=10.11575/sppp.v14i1.72311 |accessdate=August 14, 2022|last1=Mintz |first1=Jack |last2=Bazel |first2=Philip |journal=The School of Public Policy Publications |volume=14 |issue=1 }}</ref><ref name="nationalpost 2022">{{cite web | title='Worst in the world': Here are all the rankings in which Canada is now last | website=nationalpost | date=August 11, 2022 | url=https://nationalpost.com/news/canada/worst-in-the-world-here-are-all-the-rankings-in-which-canada-is-now-last | access-date=May 13, 2023}}</ref> Among OECD members, Canada has a highly efficient and strong [[Social programs in Canada|social security system]]; social expenditure stood at [[Welfare state#Effects|roughly 23.1% of GDP]].<ref name="Kenworthy">{{Cite journal |jstor = 3005973|title = Do Social-Welfare Policies Reduce Poverty? A Cross-National Assessment|journal = Social Forces|volume = 77|issue = 3|pages = 1119–1139|last1 = Kenworthy|first1 = Lane|year = 1999|doi = 10.2307/3005973|url = http://www.lisdatacenter.org/wps/liswps/188.pdf|archive-url = https://web.archive.org/web/20130810134045/http://www.lisdatacenter.org/wps/liswps/188.pdf|archive-date = August 10, 2013|url-status = live}}</ref><ref name="Bradley et al.">{{Cite journal |jstor = 3088901|title = Determinants of Relative Poverty in Advanced Capitalist Democracies|journal = American Sociological Review|volume = 68|issue = 1|pages = 22–51|last1 = Moller|first1 = Stephanie|last2 = Huber|first2 = Evelyne|last3 = Stephens|first3 = John D.|last4 = Bradley|first4 = David|last5 = Nielsen|first5 = François|year = 2003|doi = 10.2307/3088901}}</ref><ref name="Canada_welfare">{{Cite web | url=http://stats.oecd.org/Index.aspx?DataSetCode=SOCX_AGG | title=Social Expenditure – Aggregated data|work=[[OECD]] }}</ref>

Since the early 20th century, the growth of Canada's manufacturing, mining, and service sectors has transformed the nation from a largely rural economy to an urbanized, industrial one.<ref>{{Cite book |last1=Harris |first1=R. Cole |url=https://books.google.com/books?id=pD7vTXLqkugC&pg=PA2 |title=Historical Atlas of Canada: Addressing the Twentieth Century, 1891–1961 |last2=Matthews |first2=Geoffrey J. |publisher=University of Toronto Press |year=1987 |isbn=978-0-8020-3448-9 |page=2 |archive-url=https://web.archive.org/web/20180320150918/https://books.google.com/books?id=pD7vTXLqkugC&pg=PA2 |archive-date=March 20, 2018 |url-status=live}}</ref> Like many other developed countries, the Canadian economy is dominated by the [[Tertiary sector of the economy|service industry]], which employs about three-quarters of the country's workforce.<ref>{{cite web |date=January 8, 2009 |title=Employment by Industry |url=http://www40.statcan.gc.ca/l01/cst01/econ40-eng.htm |archive-url=https://web.archive.org/web/20110524063742/http://www40.statcan.gc.ca/l01/cst01/econ40-eng.htm |archive-date=May 24, 2011 |publisher=Statistics Canada |access-date=May 23, 2011}}</ref> Among developed countries, Canada has an unusually important [[Primary sector of the economy|primary sector]], of which the [[Forestry in Canada|forestry]] and [[Petroleum industry in Canada|petroleum industries]] are the most prominent components.<ref name="SueyoshiGoto2018">{{Cite book |last1=Sueyoshi |first1=Toshiyuki |url=https://books.google.com/books?id=s0RKDwAAQBAJ&pg=PA496 |title=Environmental Assessment on Energy and Sustainability by Data Envelopment Analysis |last2=Goto |first2=Mika |publisher=Wiley |year=2018 |isbn=978-1-118-97933-4 |page=496}}</ref> Many towns in northern Canada, where agriculture is difficult, are sustained by nearby mines or sources of timber.<ref>Vodden, K. and Cunsolo, A. (2021): [https://natural-resources.canada.ca/sites/nrcan/files/GNBC/Chapter%25203_Rural%2520and%2520Remote%2520Communities_Final_EN.pdf&ved=2ahUKEwinsqa1t_P-AhX-kokEHfxiDrEQFnoECEIQAQ&usg=AOvVaw3WFOFsFYTbFczdxNxRhL2p Rural and Remote Communities]{{Dead link|date=June 2023 |bot=InternetArchiveBot |fix-attempted=yes }}; Chapter 3 in Canada in a Changing Climate: National Issues Report, (ed.) F.J. Warren and N. Lulham; Government of Canada</ref> Canada spends [[List of sovereign states by research and development spending|around 1.70% of GDP]] on advanced [[research and development]] across various sectors of the economy.<ref>{{cite web |author=Our World in Data |url=https://ourworldindata.org/grapher/research-spending-gdp |title=Research & development spending as a share of GDP |website=ourworldindata.org |access-date=January 10, 2024}}</ref><ref name="unctad">{{cite web |author=Organisation for Economic Co-operation and Development |url=https://data.oecd.org/rd/gross-domestic-spending-on-r-d.htm |title=Gross domestic spending on R&D |website=data.oecd.org |access-date=January 10, 2024 |archive-date=January 14, 2017 |archive-url=https://web.archive.org/web/20170114013730/https://data.oecd.org/rd/gross-domestic-spending-on-r-d.htm |url-status=dead }}</ref>

Canada's economic integration with the United States has increased significantly since [[World War II]].<ref>{{Cite book |last1=Mosler |first1=David |url=https://books.google.com/books?id=l00i5PKYDwcC&pg=PA38 |title=The American Challenge: The World Resists US Liberalism |last2=Catley |first2=Bob |publisher=[[Ashgate Publishing]] |year=2013 |isbn=978-1-4094-9852-0 |page=38}}</ref> The [[Automotive Products Trade Agreement]] of 1965 opened Canada's borders to trade in the automobile manufacturing industry.<ref>{{Cite book |last1=Kerr |first1=William |url=https://books.google.com/books?id=FEsjBAAAQBAJ&pg=PA96 |title=The Economics of International Commerce |last2=Perdikis |first2=Nicholas |publisher=[[Edward Elgar Publishing]] |year=2014 |isbn=978-1-78347-668-8 |page=96}}</ref> In the 1970s, concerns over energy self-sufficiency and foreign ownership in the manufacturing sectors prompted the federal government to enact the [[National Energy Program]] (NEP) and the [[Foreign Investment Review Agency]] (FIRA).<ref>{{Cite book |last1=Morck |first1=Randall |title=Governance, Multinationals, and Growth |last2=Tian |first2=Gloria |last3=Yeung |first3=Bernard |publisher=Edward Elgar Publishing |year=2005 |isbn=978-1-84376-909-5 |editor-last=Eden |editor-first=Lorraine |page=50 |chapter=Who owns whom? Economic nationalism and family controlled pyramidal groups in Canada |editor-last2=Dobson |editor-first2=Wendy |chapter-url=https://books.google.com/books?id=q4gt2xhqpSIC&pg=PA50}}</ref> The government abolished the NEP in the 1980s and changed the name of FIRA to [[Invest in Canada|Investment in Canada]] to encourage foreign investment.<ref>{{Cite journal |last=Hale |first=Geoffrey |date=October 2008 |title=The Dog That Hasn't Barked: The Political Economy of Contemporary Debates on Canadian Foreign Investment Policies |journal=[[Canadian Journal of Political Science]] |volume=41 |issue=3 |pages=719–747 |doi=10.1017/S0008423908080785 |jstor=25166298 |s2cid=154319169}}</ref> The [[Canada&nbsp;– 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 1994 (later replaced by the [[United States–Mexico–Canada Agreement|Canada–United States–Mexico Agreement]]).<ref>{{Cite book |url=https://books.google.com/books?id=2wd30pXJxpYC&pg=PA569 |title=The Oxford Companion to Politics of the World |publisher=Oxford University Press |year=2001 |isbn=978-0-19-511739-4 |editor-last=Krieger |editor-first=Joel |edition=2nd |page=569}}</ref> As of 2023, [[Free trade agreements of Canada|Canada is a signatory to 15 free trade agreements]] with 51 countries.<ref name="GAC 2020">{{cite web | title=Expand globally with Canada's free trade agreements | website=GAC | date=December 3, 2020 | url=https://www.tradecommissioner.gc.ca/fta-ale-canada.aspx?lang=eng | access-date=May 14, 2023}}</ref>

Canada is one of the few developed nations that are net exporters of energy.<ref name="SueyoshiGoto2018" /><ref>{{Cite book |last=Brown |first=Charles E |title=World Energy Resources |publisher=Springer |year=2002 |isbn=978-3-540-42634-9 |pages=323, 378–389}}</ref> [[Offshore drilling in Atlantic Canada|Atlantic Canada possesses vast offshore deposits of natural gas]],<ref>{{Cite web|url=https://www.cer-rec.gc.ca/en/data-analysis/energy-markets/market-snapshots/2017/market-snapshot-25-years-atlantic-canada-offshore-oil-natural-gas-production.html|title=CER – Market Snapshot: 25 Years of Atlantic Canada Offshore Oil & Natural Gas Production|first=Canada Energy Regulator|last=Government of Canada|date=January 29, 2021|website=www.cer-rec.gc.ca}}</ref> and Alberta hosts the fourth-largest oil reserves in the world.<ref name="Monga 2022">{{cite web | last=Monga | first=Vipal | title=One of the World's Dirtiest Oil Patches Is Pumping More Than Ever | website=WSJ | date=January 13, 2022 | url=https://www.wsj.com/articles/oil-sands-canada-dirty-carbon-environment-11642085980 | access-date=May 13, 2023}}</ref> The vast [[Athabasca oil sands]] and other oil reserves give Canada 13&nbsp;percent of global oil reserves, constituting the [[List of countries by proven oil reserves|world's third or fourth-largest]].<ref>{{Cite book |last=Lopez-Vallejo |first=Marcela |url=https://books.google.com/books?id=fgDtCwAAQBAJ&pg=PA82 |title=Reconfiguring Global Climate Governance in North America: A Transregional Approach |publisher=Routledge |year=2016 |isbn=978-1-317-07042-9 |page=82}}</ref> Canada is additionally one of the world's largest suppliers of [[Agriculture in Canada|agricultural products]]; the [[Canadian Prairies]] are one of the most important global producers of wheat, [[canola]], and other grains.<ref>{{cite web |year=2017 |title=Trade Ranking Report: Agriculture |url=https://www.fcc-fac.ca/fcc/knowledge/ag-economist/trade-ranking-report-agriculture-e.pdf |publisher=FCC |access-date=May 19, 2023 |archive-date=October 3, 2019 |archive-url=https://web.archive.org/web/20191003070556/https://www.fcc-fac.ca/fcc/knowledge/ag-economist/trade-ranking-report-agriculture-e.pdf |url-status=dead }}</ref> The [[List of exports of Canada|country is a leading exporter]] of zinc, uranium, gold, nickel, [[Platinum group|platinoids]], aluminum, steel, [[iron ore]], [[coking coal]], lead, copper, molybdenum, cobalt, and cadmium.<ref name="OEC - The Observatory of Economic Complexity">{{cite web | title=Canada (CAN) Exports, Imports, and Trade Partners - The Observatory of Economic Complexity | website=OEC - The Observatory of Economic Complexity  | url=https://oec.world/en/profile/country/can | access-date=May 20, 2023}}</ref><ref name="The Atlas of Economic Complexity">{{cite web | title=The Atlas of Economic Complexity by @HarvardGrwthLab | website=The Atlas of Economic Complexity | url=https://atlas.cid.harvard.edu/countries/39 | access-date=May 20, 2023}}</ref> Canada has a sizeable manufacturing sector centred in southern Ontario and Quebec, with automobiles and [[aeronautics]] representing particularly important industries.<ref>{{cite web |date=January 22, 2015 |title=Mapping Canada's Top Manufacturing Industries |url=https://www.ibisworld.com/media/2015/01/22/mapping-canadas-top-manufacturing-industries/ |website=Industry Insider}}</ref> The [[Fishing industry in Canada|country's fishing]] and [[Tourism in Canada|tourism industries]] are also a key contributor to the economy.<ref>{{multiref2|{{cite web |title=Canada's oceans and the economic contribution of marine sectors |website=Statistics Canada |date=July 19, 2021 |url=https://www150.statcan.gc.ca/n1/pub/16-002-x/2021001/article/00001-eng.htm |access-date=September 15, 2023}}|{{cite web | title=Tourism among the fastest growing sectors in 2024, setting the stage for 2025 | website=Statistics Canada | date=July 28, 2025 | url=https://www.statcan.gc.ca/o1/en/plus/8355-tourism-among-fastest-growing-sectors-2024-setting-stage-2025 | access-date=October 25, 2025}}
}}</ref>

==History==
{{main|Economic history of Canada|Bibliography of Canadian history#Economic history}}

{{excerpt|Economic history of Canada}}

==Overview==

{{Economy of Canada}}
With the exception of a few island nations in the [[Caribbean]], Canada is the only North American country to use the [[parliamentary system]] of government. As a result, Canada has developed its own social and political institutions, distinct from most other countries in the world.<ref name="autogenerated1">Global Systems by David J Rees with Michael G Jones, Chapter 4, {{ISBN|0-919913-74-1}}</ref> Though the Canadian economy is closely integrated with the [[Economy of the United States|American economy]], it has developed unique economic institutions.

The Canadian economic system generally combines elements of [[private enterprise]] and [[public enterprise]]. Many aspects of public enterprise, most notably the development of an extensive [[welfare spending]] system to redress social and economic inequities, were adopted after the end of [[World War II]] in 1945.<ref name="autogenerated1"/>

Approximately 89% of Canada's land is [[Crown land]].<ref>{{Cite web|title=Crown Land {{!}} The Canadian Encyclopedia|url=https://www.thecanadianencyclopedia.ca/en/article/crown-land|access-date=January 1, 2021|website=www.thecanadianencyclopedia.ca}}</ref> Canada has one of the highest levels of [[List of countries by economic freedom|economic freedom]] in the world. Workers can experience protection and labor regulation which is established both federally and throughout the provinces.<ref>{{cite web |title=Overview of the parts of the Canada Labour Code and how they apply to your workplace |url=https://www.canada.ca/en/services/jobs/workplace/federally-regulated-industries/canada-labour-code-parts-overview.html |website=Canada.ca |access-date=November 14, 2025}}</ref> Unionization is very common as around 30% of workers can be found in a union, ensuring safe working standards and sufficient pay.<ref>{{cite web |title=State of the Unions in Canada |url=https://www.statcan.gc.ca/o1/en/plus/7416-state-unions-canada |website=statcan |date=November 26, 2024 |access-date=November 14, 2025}}</ref> Canada also allows for the freedom of immigrant workers through its “Express Entry System”. This is an online system that allows skilled workers who are looking to become permanent residents an easy way to apply and become official Canadians.<ref>{{cite web |title=Express Entry: Immigrate to Canada {[!]} Calculate Your CRS Score |url=https://www.canadavisa.com/express-entry.html#:~:text=1.,ITAs%20through%20category%2Dbased%20selection. |website=Canada Visa |access-date=November 14, 2025}}</ref> Throughout Canada, there is a minimal barrier when it comes to pursuing an entrepreneurship as a Canadian resident. When looking at the Heritage Foundation index of economic freedom, Canada ranks fourteenth out of over one hundred different countries being scored. Canada closely resembles the U.S. in its market-oriented economic system and pattern of production.<ref name="cia_factbook">{{Cite CIA World Factbook|country=Canada|access-date=May 6, 2007}}</ref> As of 2019, Canada has 56 companies in the [[Forbes Global 2000]] list, ranking ninth just behind South Korea and ahead of Saudi Arabia.<ref>{{cite news|url=https://www.forbes.com/global2000/list/|title=The World's Largest Public Companies|work=[[Forbes]]|quote=U.S. companies account for the most members of the list, 565, followed by China and Hong Kong, which is home to 263 Global 2000 companies.}}</ref>
[[International trade]] makes up a large part of the Canadian economy, particularly of its natural resources. In 2009, agriculture, energy, forestry and [[Mining in Canada|mining]] exports accounted for about 58% of Canada's total exports.<ref name="www40.statcan.gc.ca">{{cite web|url=http://www40.statcan.gc.ca/l01/cst01/gblec04-eng.htm |title=Exports of goods on a balance-of-payments basis, by product |publisher=Statistics Canada |url-status=dead |archive-url=https://web.archive.org/web/20111102044929/http://www40.statcan.gc.ca/l01/cst01/gblec04-eng.htm |archive-date=November 2, 2011 }}</ref> Machinery, equipment, automotive products and other manufactures accounted for a further 38% of exports in 2009.<ref name="www40.statcan.gc.ca"/> In 2009, exports accounted for about 30% of Canada's GDP. The United States is by far its largest trading partner, accounting for about 73% of exports and 63% of imports as of 2009.<ref>{{cite web|url=http://www40.statcan.ca/l01/cst01/gblec02a.htm |title=Imports, exports and trade balance of goods on a balance-of-payments basis, by country or country grouping |publisher=Statistics Canada |url-status=dead |archive-url=https://web.archive.org/web/20060618224937/http://www40.statcan.ca/l01/cst01/gblec02a.htm |archive-date=June 18, 2006 }}</ref> Canada's combined exports and imports ranked 8th among all nations in 2006.<ref>Canada's Private to Public (Crown) Property Ratio is 60:40.[[:File:Top 20 Exporters and Importers in 2006.gif|2006 exports/imports]]</ref>

About 4% of Canadians are directly employed in primary resource fields, and they account for 6.2% of GDP.<ref name="gdpstats">{{cite web|url=http://www40.statcan.gc.ca/l01/cst01/gdps04a-eng.htm |archive-url=https://web.archive.org/web/20110428131128/http://www40.statcan.gc.ca/l01/cst01/gdps04a-eng.htm |url-status=dead |archive-date=April 28, 2011 |title=Gross domestic product at basic prices, by industry (monthly) |publisher=Statistics Canada}}</ref> They are still paramount in many parts of the country. Many, if not most, towns in northern Canada, where agriculture is difficult, exist because of a nearby mine or source of timber. Canada is a world leader in the production of many natural resources such as [[gold]], [[nickel]], [[uranium mining in Canada|uranium]], [[Canadian diamonds|diamonds]], [[lead]], and in recent years, [[petroleum industry in Canada|crude petroleum]], which, with the world's second-largest oil reserves, is taking an increasingly prominent position in natural resources extraction. Several of Canada's largest companies are based in natural resource industries, such as [[Cameco]], [[Goldcorp]], and [[Barrick Gold]]. The vast majority of these products are exported, mainly to the United States. There are also many secondary and service industries that are directly linked to primary ones. For instance one of Canada's largest manufacturing industries is the [[pulp and paper]] sector, which is directly linked to the [[Forestry in Canada|logging]] business.

The reliance on natural resources has several effects on the Canadian economy and Canadian society. While manufacturing and service industries are easy to standardize, natural resources vary greatly by region. This ensures that differing economic structures developed in each region of Canada, contributing to Canada's strong regionalism. At the same time the vast majority of these resources are exported, integrating Canada closely into the international economy. Howlett and Ramesh argue that the inherent instability of such industries also contributes to greater government intervention in the economy, to reduce the social impact of market changes.<ref>Howlett, Michael and M. Ramesh. ''Political Economy of Canada: An Introduction.'' Toronto: McClelland and Stewart, 1992.</ref>

Natural resource industries also raise important questions of sustainability. Despite many decades as a leading producer, there is little risk of depletion. Large discoveries continue to be made, such as the massive nickel find at [[Voisey's Bay]]. Moreover, the far north remains largely undeveloped as producers await higher prices or new technologies as many operations in this region are not yet cost effective. In recent decades Canadians have become less willing to accept the environmental destruction associated with exploiting natural resources. High wages and Aboriginal land claims have also curbed expansion. Instead, many Canadian companies have focused their exploration, exploitation and expansion activities overseas where prices are lower and governments more amenable. Canadian companies are increasingly playing important roles in Latin America, Southeast Asia, and Africa.

The depletion of renewable resources has raised concerns in recent years. After decades of escalating overutilization the [[Cod fisheries|cod fishery]] all but collapsed in the 1990s, and the Pacific salmon industry also suffered greatly. The [[Forestry in Canada|logging]] industry, after many years of activism, has in recent years moved to a more sustainable model, or to other countries.

==Measuring productivity==
Productivity measures are key indicators of economic performance and a key source of economic growth and competitiveness. OECD's<ref group=notes>The OECD produces an annual report on member nations who share the goal of "contributing to the development of the world economy" by attaining the "highest sustainable economic growth and employment and a rising standard of living while maintaining financial stability".</ref> ''Compendium of Productivity Indicators'',<ref name=OECDcompend2012 /> published annually, presents a broad overview of productivity levels and growth in member nations, highlighting key measurement issues. It analyses the role of "productivity as the main driver of economic growth and convergence" and the "contributions of labour, capital and MFP in driving economic growth".<ref name=OECDcompend2012>{{cite report|url=http://www.keepeek.com/Digital-Asset-Management/oecd/industry-and-services/oecd-compendium-of-productivity-indicators-2012_9789264188846-en|title='OECD Compendium of Productivity Indicators 2012|publisher=OECD|year=2012|archive-date=August 6, 2017|access-date=June 13, 2013|archive-url=https://web.archive.org/web/20170806135251/http://www.keepeek.com/Digital-Asset-Management/oecd/industry-and-services/oecd-compendium-of-productivity-indicators-2012_9789264188846-en|url-status=dead}} p. 3</ref> According to the definition above "MFP is often interpreted as the contribution to economic growth made by factors such as technical and organisational innovation". Measures of productivity include the [[gross domestic product]] (GDP) and [[total factor productivity]].

===Multifactor productivity===
Another productivity measure, used by OECD, is the long-term trend in multifactor productivity (MFP) also known as [[total factor productivity]] (TFP). This indicator assesses an economy's "underlying productive capacity ('potential output'), itself an important measure of the growth possibilities of economies and of inflationary pressures". MFP measures the residual growth that cannot be explained by the rate of change in the services of labour, capital and intermediate outputs, and is often interpreted as the contribution to economic growth made by factors such as technical and organisational innovation.

According to OECD's annual economic survey of Canada in June 2012, Canada has experienced weak growth of multi-factor productivity (MFP) and has been declining further since 2002. One of the ways MFP growth is raised is by boosting innovation and Canada's innovation indicators such as business R&D and patenting rates were poor. Raising MFP growth is "needed to sustain rising living standards, especially as the population ages".<ref name=OECD2012>{{cite report|title=OECD Economic Surveys Canada June 2012 Overview |url=http://www.oecd.org/eco/50543310.pdf |archive-url=https://web.archive.org/web/20130616120842/http://www.oecd.org/eco/50543310.pdf |archive-date=June 16, 2013 |year=2012 |publisher=Organisation for Economic Co-operation and Development |url-status=live }}</ref>

Since 2010, productivity growth has picked up, almost entirely driven by above average multifactor productivity growth.<ref name=OECD2021>{{cite report|title=OECD Compendium of Productivity Indicators 2021 |url=https://www.oecd-ilibrary.org/sites/f25cdb25-en/1/3/2/index.html?itemId=/content/publication/f25cdb25-en&_csp_=f3624e8b770eac8d5dc12a37d86e806e&itemIGO=oecd&itemContentType=issue |publisher=Organisation for Economic Co-operation and Development }}</ref> However, productivity on the whole still lags behind the upper half of OECD countries such as the United States.<ref name=OECD2018>{{cite report|title=OECD Canada Economic Survey 2018 |url=https://read.oecd-ilibrary.org/economics/oecd-economic-surveys-canada-2018_eco_surveys-can-2018-en#page67 |publisher=Organisation for Economic Co-operation and Development }}</ref> Canada's productivity is now around the median OECD productivity, close to that of Australia. More can be done to increase productivity, such as increasing the productivity of capital through improving the capital stock to output ratio and capital quality. This could be achieved through the liberalization of internal trade barriers, as suggested in the OECD's latest Canadian economic survey.<ref name=OECDSurvey2021>{{cite report|title=OECD Canada Economic Survey 2021 |url=https://read.oecd-ilibrary.org/economics/oecd-economic-surveys-canada-2021_16e4abc0-en#page46 |publisher=Organisation for Economic Co-operation and Development }}</ref>

==Bank of Canada==
The mandate of the central bank—the [[Bank of Canada]]—is to conduct monetary policy that "preserves the value of money by keeping inflation low and stable".<ref>{{Cite web|url=https://www.bankofcanada.ca/|title=Bank of Canada|website=www.bankofcanada.ca}}</ref><ref name="Monetary_Policy_Report_2015_07"/>

===Monetary Policy Report===
The Bank of Canada issues its bank rate announcement through its Monetary Policy Report which is released eight times a year.<ref name="Monetary_Policy_Report_2015_07">{{cite report |url=http://www.bankofcanada.ca/wp-content/uploads/2015/07/mpr-2015-07-15.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.bankofcanada.ca/wp-content/uploads/2015/07/mpr-2015-07-15.pdf |archive-date=October 9, 2022 |url-status=live |date=July 15, 2015 |access-date=August 6, 2015 |title=Monetary Policy Report}}</ref> The [[Bank of Canada]], a federal crown corporation, has the responsibility of Canada's monetary system.<ref name="Blake 2007"/> Under the [[inflation targeting|inflation-targeting]] monetary policy that has been the cornerstone of Canada's monetary and fiscal policy since the early 1990s, the Bank of Canada sets an inflation target<ref name="Monetary_Policy_Report_2015_07" /><ref name="inflation-targeting_2010">{{citation |url=http://www.bankofcanada.ca/wp-content/uploads/2010/11/inflation_control_target.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.bankofcanada.ca/wp-content/uploads/2010/11/inflation_control_target.pdf |archive-date=October 9, 2022 |url-status=live |title=Inflation-Control Target Backgrounder |publisher=Bank of Canada |date=November 2010}}</ref> The inflation target was set at 2 per cent, which is the midpoint of an inflation range of 1 to 3 per cent. They established a set of inflation-reduction targets to keep inflation "low, stable and predictable" and to foster "confidence in the value of money", contribute to Canada's sustained growth, employment gains and improved standard of living.<ref name="Monetary_Policy_Report_2015_07" />

In a January 9, 2019, statement on the release of the Monetary Policy Report, Bank of Canada Governor [[Stephen S. Poloz]] summarized major events since the October report, such as "negative economic consequences" of the [[China–United States trade war (2018–present)|US-led trade war with China]]. In response to the ongoing trade war "bond yields have fallen, yield curves have flattened even more and stock markets have repriced significantly" in "global financial markets". In Canada, low oil prices will impact Canada's "macroeconomic outlook". Canada's housing sector is not stabilizing as quickly as anticipated.<ref name="BoC_Poloz_20190109">{{Cite press release|series = Monetary Policy Report|title=Opening Statement| access-date = January 9, 2019 |date=January 9, 2019| url = https://www.bankofcanada.ca/2019/01/opening-statement-090119/ |publisher=[[Bank of Canada]] |first=Stephen S. |last=Poloz |location=Ottawa, Ontario}}</ref>

===Inflation targeting===
During the period that [[John Crow]] was Governor of the Bank of Canada—1987 to 1994—there was a worldwide [[Early 1990s recession|recession]] and the bank rate rose to around 14% and unemployment topped 11%.<ref name="Blake 2007">{{citation |editor=Blake |title=Transforming the Nation: Canada and Brian Mulroney |date=2007}}</ref> Although since that time inflation-targeting has been adopted by "most advanced-world central banks",<ref name="beyond_inflation-targeting_2011" /> in 1991 it was innovative and Canada was an early adopter when the then-Finance Minister [[Michael Wilson (Canadian politician)|Michael Wilson]] approved the Bank of Canada's first inflation-targeting in the 1991 federal budget.<ref name="beyond_inflation-targeting_2011" /> The inflation target was set at 2 per cent.<ref name="Monetary_Policy_Report_2015_07" /> Inflation is measured by the total [[consumer price index]] (CPI). In 2011 the Government of Canada and the Bank of Canada extended Canada's inflation-control target to December 31, 2016.<ref name="Monetary_Policy_Report_2015_07" /> The Bank of Canada uses three unconventional instruments to achieve the inflation target: "a conditional statement on the future path of the policy rate", [[quantitative easing]], and [[credit easing]].<ref name="MPR_2009">{{cite report |title=Monetary Policy Report |date=April 2009 |access-date=August 6, 2015 |publisher=Bank of Canada|url=https://www.bankofcanada.ca/2009/04/23-april-2009/}}</ref>

As a result, interest rates and inflation eventually came down along with the value of the Canadian dollar.<ref name="Blake 2007" /> From 1991 to 2011 the inflation-targeting regime kept "price gains fairly reliable".<ref name="beyond_inflation-targeting_2011" />

Following the [[Great Recession]], the narrow focus of inflation-targeting as a means of providing stable growth in the Canadian economy was questioned. By 2011, the then-Bank of Canada Governor [[Mark Carney]] argued that the central bank's mandate would allow for a more flexible inflation-targeting in specific situations where he would consider taking longer "than the typical six to eight quarters to return inflation to 2 per cent".<ref name="beyond_inflation-targeting_2011">{{citation |title=Bank of Canada to get marching orders to look beyond inflation targeting |author=Jeremy Torobin |author2=Bill Curry |location=Ottawa, Ontario |publisher=The Globe and Mail |date=October 16, 2011 }}</ref>

On July 15, 2015, the [[Bank of Canada]] announced that it was lowering its target for the overnight rate by another one-quarter percentage point, to 0.5 per cent<ref name="Bank_of_Canada_2015_July">{{citation |url=http://www.bankofcanada.ca/2015/07/fad-press-release-2015-07-15/ |publisher=Bank of Canada |title=Bank of Canada lowers overnight rate target to 1/2 per cent |access-date=August 6, 2015}}</ref> "to try to stimulate an economy that appears to have failed to rebound meaningfully from the oil shock woes that dragged it into decline in the first quarter".<ref name="IMF_2015_07">{{citation |title=IMF again cuts Canada's growth forecast ahead of interest rate decision |author=David Parkinson |publisher=The Globe and Mail |date=July 9, 2015 |access-date=August 6, 2015 |url=https://www.theglobeandmail.com/report-on-business/economy/growth/imf-again-cuts-canadas-growth-forecast-as-oil-shock-lingers/article25385528/}}</ref> According to the Bank of Canada announcement, in the first quarter of 2015, the total [[Consumer price index]] (CPI) inflation was about 1 per cent. This reflects "year-over-year price declines for consumer energy products". Core inflation in the first quarter of 2015 was about 2 per cent with an underlying trend in inflation at about 1.5 to 1.7 per cent.<ref name="Bank_of_Canada_2015_July" />

In response to the Bank of Canada's July 15, 2015, rate adjustment, Prime Minister [[Stephen Harper]] explained that the economy was "being dragged down by forces beyond Canadian borders such as  global oil prices, the European debt crisis, and China's economic slowdown" which has made the global economy "fragile".<ref name="reuters_2015">{{citation |url=https://www.reuters.com/article/canada-cenbank-politics/after-rate-cut-canada-pms-office-says-global-woes-hit-economy-idUSL2N0ZV1TE20150715|publisher=Reuters |first=Allison|last=Lampert|date=July 15, 2015 |title=After rate cut, Canada PM's office says global woes hit economy |access-date=August 7, 2015}}</ref>

The [[Chinese stock market]] had lost about US$3 trillion of wealth by July 2015 when panicked investors sold stocks, which created declines in the international markets of commodities, which in turn negatively impacted resource-producing countries like Canada.<ref name="boom2recession_2015">{{citation |url=http://www.macleans.ca/economy/economicanalysis/how-canadas-economy-went-from-boom-to-recession-so-fast/ |title=How Canada's economy went from boom to recession so fast: An in-depth look at the perfect storm that pushed Canada into recession |author=Chris Sorensen |author2=Aaron Hutchins |date=July 15, 2015 |access-date=August 8, 2015 |publisher=Macleans}}</ref>

The Bank's main priority has been to keep inflation at a moderate level.<ref>{{Cite web | url=http://www.bankofcanada.ca/rates/indicators/key-variables/inflation-control-target/ |title = Inflation-Control Target}}</ref> As part of that strategy, interest rates were kept at a low level for almost seven years. Since September 2010, the key interest rate (overnight rate) was 0.5%. In mid 2017, inflation remained below the Bank's 2% target, (at 1.6%)<ref>{{Cite news|date=July 12, 2017|title=The Bank of Canada Shows It's the Federal Reserve of the North|newspaper=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2017-07-12/the-bank-of-canada-shows-it-s-the-federal-reserve-of-the-north}}</ref> mostly because of reductions in the cost of energy, food and automobiles; as well, the economy was in a continuing spurt with a predicted GDP growth of 2.8 percent by year end.<ref>{{Cite news|date=July 12, 2017|title=Bank of Canada Raises Rates for First Time in 7 Years|newspaper=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2017-07-12/bank-of-canada-raises-benchmark-rate-to-0-75-key-takeaways}}</ref><ref>{{Cite news | url=https://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-interest-rate-decision/article35662991/ |title = Bank of Canada raises interest rates for first time in seven years}}</ref> Early on July 12, 2017, the bank issued a statement that the benchmark rate would be increased to 0.75%.

Following the [[Economic impact of the COVID-19 pandemic in Canada|COVID-19 pandemic impact on the Canadian economy]], critics have pointed out that the Bank of Canada's inflation-targeting has had unintended consequences, such as fuelling an increase in home prices and contributing to wealth inequalities by supporting higher equity values.<ref>{{Cite web |title=GESSAROLI: Artificially low interest rates – we're paying the price |url=https://torontosun.com/opinion/columnists/gessaroli-artificially-low-interest-rates-were-paying-the-price |access-date=April 1, 2022 |website=torontosun |language=en-CA}}</ref>

==Key industries==

In 2024, the Canadian economy had the following relative weighting by the industry as a percentage value of GDP:<ref name="industry GDP">[https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610043403 Gross domestic product (GDP) at basic prices, by industry, annual average (x 1,000,000)], Statistics Canada, Table 36-10-0434-03, 2025.</ref>

{| class="wikitable"
|-
! Industry !! Share of GDP
|-
| Real estate and rental and leasing || 13.16%
|-
| Manufacturing || 8.96%
|-
| Health care and social assistance || 8.03%
|-
| Finance and insurance || 7.42%
|-
| Professional, scientific and technical services || 7.33%
|-
| Construction || 7.23%
|-
| Public administration || 7.21%
|-
| Educational services || 5.44%
|-
| Wholesale trade || 5.42%
|-
| Retail trade || 5.26%
|-
| Mining, quarrying, and oil and gas extraction || 5.02%
|-
| Transportation and warehousing || 4.44%
|-
| Information and cultural industries || 3.47%
|-
| Administrative and support, waste management, and remediation services || 2.66%
|-
| Accommodation and food services || 2.22%
|-
| Utilities || 2.04%
|-
| Other services (except public administration) || 1.95%
|-
| Agriculture, forestry, fishing, and hunting || 1.89%
|-
| Arts, entertainment and recreation || 0.82%
|-
| Management of companies and enterprises || 0.04%
|}

=== Real estate, rental, and leasing ===
{{main|Affordable housing in Canada|Public housing in Canada}}
{{see also|Canadian property bubble|Rent regulation in Canada}}

Canada's real estate market is the backbone of the economy, comprising over 13% of the GDP by sector in 2024. In 2024, housing investment accounted for 25% of national wealth<ref>{{Cite web |last=Government of Canada |first=Statistics Canada |date=2025-06-24 |title=The Daily — Housing Economic Account, 2024 |url=https://www150.statcan.gc.ca/n1/daily-quotidien/250624/dq250624d-eng.htm |access-date=2026-01-20 |website=www150.statcan.gc.ca}}</ref>, up from 21% in 2021<ref>{{cite web | url=https://www150.statcan.gc.ca/n1/daily-quotidien/230116/dq230116d-eng.htm | title=The Daily — Housing economic account, 1961 to 2021 | date=January 16, 2023 }}</ref>. It is difficult to discern the actual contribution of other sectors (such as construction, Investment and financial services, manufacturing, and forestry) to real estate, rental and leasing, as these industries are intrinsically linked in a complex economy. The Bank of Canada has increased its mortgage bond holdings to target 50% of the fixed-rate primary issuances.<ref>{{cite web | url=https://www.bankofcanada.ca/2025/01/operational-details-government-purchases-canada-mortgage-bonds-2025/ | title=Operational Details for Government Purchases of Canada Mortgage Bonds in 2025 }}</ref>

===Defence===
{{Main|Category:Defence companies of Canada}}

===Service sector===
{{See also|List of Canadian stores|List of supermarket chains in Canada|Category:Canadian brands|Category:Retailing in Canada|Category:Service industries in Canada}}

The service sector in Canada is vast and multifaceted, employing about three quarters of Canadians and accounting for 70% of GDP.<ref name="auto">{{Cite CIA World Factbook|country=Canada|access-date=October 14, 2018}}</ref> The largest employer is the [[retail]] sector, employing almost 12% of Canadians.<ref>Wallace, Iain, ''A Geography of the Canadian Economy.'' Don Mills: Oxford University Press, 2002.</ref> The retail industry is concentrated mainly in a small number of chain stores clustered together in [[shopping mall]]s. In recent years, there has been an increase in the number of [[big-box store]]s, such as [[Walmart]] (of the United States), [[Real Canadian Superstore]], and [[Best Buy]] (of the United States). This has led to fewer workers in this sector and the migration of retail jobs to the suburbs.

[[File:Vancouver downtown.jpg|thumb|The [[Financial District, Vancouver|Financial District]] in [[Downtown Vancouver]]. Canadian business services are largely concentrated in large urban areas of Canada.]]
The second-largest portion of the service sector is the business service, and it employs only a slightly smaller percentage of the population.<ref>{{Cite web|url=https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410002301|title=Labour force characteristics by industry, annual|first=Statistics Canada|last=Government of Canada|date=January 25, 2021|website=www150.statcan.gc.ca}}</ref> This includes [[financial services]], [[real estate]], and communications industries. This portion of the economy has been rapidly growing in recent years. It is largely concentrated in the major urban centres, especially [[Toronto]], [[Montreal]] and [[Vancouver]].

The education and health sectors are two of Canada's largest, but both are primarily under the influence of the government. The health care industry has been quickly growing and is the third-largest in Canada.

Canada has an important [[high tech]] industry,<ref>{{Cite web|title=Canada Business Facts|url=https://bizpages.org/countries--CA--Canada}}</ref> and a burgeoning film, television, and entertainment industry creating content for local and international consumption (see [[Media in Canada]]).<ref>{{cite book |last=Gasher |first=Mike |date=2002 |title=Hollywood North the feature film industry in British Columbia |location=Vancouver |publisher=UBC Press |isbn=978-0774809689 }}</ref> [[Tourism in Canada|Tourism]]  attracts millions of visitors and supports approximately 10% of the national labor force. In recent years, statistics show that Canada has received over 20 million international tourists annually.<ref name="n066">{{cite web | title=Tourism among the fastest growing sectors in 2024, setting the stage for 2025 | website=Statistics Canada | date=July 28, 2025 | url=https://www.statcan.gc.ca/o1/en/plus/8355-tourism-among-fastest-growing-sectors-2024-setting-stage-2025 | access-date=October 26, 2025}}</ref> The summer months are especially popular for travelers both domestically and internationally.<ref name="l240">{{cite web | title=The great big see, from sea to sea to sea: A snapshot of vacations in Canada | website=Statistics Canada | date=July 29, 2025 | url=https://www.statcan.gc.ca/o1/en/plus/8364-great-big-see-sea-sea-sea-snapshot-vacations-canada | access-date=October 27, 2025}}</ref> Tourism and supporting industries contributed over $100 billion to the Canadian national economy in 2024. The sector supports nearly 1.8 million Canadians working in tourism-related fields.<ref name="n066"/>

====Banking and finance====
{{Main|Banking in Canada|List of banks and credit unions in Canada|List of insurance companies in Canada}}

{{excerpt|Banking in Canada}}

====Education====
{{Main|Education in Canada}}

{{excerpt|Education in Canada}}

====Healthcare====
{{Main|Healthcare in Canada}}

{{excerpt|Healthcare in Canada}}

====Telecommunications====
{{Main|Telecommunications in Canada|Internet in Canada}}

{{excerpt|Telecommunications in Canada}}

====Tourism====
{{Main|Tourism in Canada}}

{{excerpt|Tourism in Canada}}

===Manufacturing===
{{Main|Category:Manufacturing in Canada}}

[[File:Ford Oakville Assembly.JPG|thumb|[[Ford Motor Company|Ford]]'s [[Oakville Assembly]] in the [[Greater Toronto Area]]. Central Canada is home to several auto factories of the major American and Japanese automakers.]]

The [[Three-sector model|general pattern of development]] for wealthy nations was a transition from a raw material production-based economy to a manufacturing-based economy and then to a service-based economy. At its World War II peak in 1944, Canada's manufacturing sector accounted for 29% of GDP,<ref name="mfggdp">{{cite web|url=http://www.statcan.gc.ca/pub/11f0027m/2009057/ct029-eng.htm|title=Manufacturing's share of gross domestic product, 1900 to 2005 |publisher=Statistics Canada}}</ref> declining to 10.37% in 2017.<ref name="industry GDP"/> Canada has not suffered as greatly as most other rich, industrialized nations from the pains of the relative decline in the importance of manufacturing since the 1960s.<ref name="mfggdp" /> A 2009 study by [[Statistics Canada]] also found that, while manufacturing declined as a relative percentage of GDP from 24.3% in the 1960s to 15.6% in 2005, manufacturing volumes between 1961 and 2005 kept pace with the overall growth in the volume index of GDP.<ref>{{cite web|url=http://www.statcan.gc.ca/pub/11f0027m/2009057/aftertoc-aprestdm2-eng.htm|title=The Canadian Manufacturing Sector: Adapting to Challenges |publisher=Statistics Canada}}</ref> Manufacturing in Canada declined significantly during the [[Great Recession]]. As of 2017, manufacturing accounts for 10% of Canada's GDP,<ref name="industry GDP"/> a relative decline of more than 5% of GDP since 2005.

Central Canada is home to [[branch plant]]s to all the major American and Japanese automobile makers and many parts factories owned by Canadian firms such as [[Magna International]] and [[Linamar|Linamar Corporation]].

====Automotive====
{{Main|Automotive industry in Canada}}

{{excerpt|Automotive industry in Canada}}

====Pharmaceutical====
{{Main|Pharmaceutical industry in Canada}}

{{excerpt|Pharmaceutical industry in Canada}}

====Pulp and paper====
{{Main|Pulp and paper industry in Canada}}

====Steel====
[[Image:HamiltonNorthEndIndustrialA.JPG|right|thumb|[[Dofasco|ArcelorMittal Dofasco]], view from Burlington Street]]
Canada was the world's nineteenth-largest steel exporter in 2018. In year-to-date 2019 (through March), further referred to as YTD 2019, Canada exported 1.39 million metric tons of steel, a 22 percent decrease from 1.79 million metric tons in YTD 2018. Based on available data, Canada's exports represented about 1.5 percent of all steel exported globally in 2017. By volume, Canada's 2018 steel exports represented just over one-tenth the volume of the world's largest exporter, China. In value terms, steel represented 1.4 percent of the total goods Canada exported in 2018. The growth in exports in the decade since 2009 has been 29%. The largest producers in 2018 were [[ArcelorMittal]], [[Essar Steel Algoma]], and the first of those alone accounted for roughly half of Canadian steel production through its two subsidiaries. The top two markets for Canada's exports were its [[NAFTA]] partners, and by themselves accounted for 92 percent of exports by volume. Canada sent 83 percent of its steel exports to the United States in YTD 2019. The gap between domestic demand and domestic production increased to −2.4 million metric tons, up from −0.2 million metric tons in YTD 2018. In YTD 2019, exports as a share of production decreased to 41.6 percent from 53 percent in YTD 2018.<ref name="usdoc">{{citation-attribution|{{cite news |title=Global Steel Trade Monitor – Steel Exports Report: Canada |url=https://www.trade.gov/steel/countries/pdfs/exports-Canada.pdf |agency=International Trade Administration |publisher=US Department of Commerce |date=August 2019 |access-date=October 10, 2019 |archive-url=https://web.archive.org/web/20180428221657/https://www.trade.gov/steel/countries/pdfs/exports-Canada.pdf |archive-date=April 28, 2018 |url-status=dead}} }}</ref>

In 2017, [[heavy industry]] accounted for 10.2% of Canada's greenhouse gas emissions.<ref name=":1" />

===Mining===
{{Main|Mining in Canada|Canadian mining in Latin America and the Caribbean}}
{{See also|Coal in Canada|Canadian diamonds|Gold mining in Canada|Uranium mining in Canada}}

Canada is one of the largest producers of metals (as of 2019):
{| class="wikitable sortable"
!Metal
!World rank
!class=unsortable|{{Refh}}
|-
|[[Platinum]]
|4
|<ref name=":2">{{cite web |title=USGS Platinum Production Statistics |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-platinum.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-platinum.pdf |archive-date=October 9, 2022 |url-status=live}}</ref>
|-
|[[Gold]]
|5
|<ref name=":3">{{cite web |title=USGS Gold Production Statistics |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-gold.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-gold.pdf |archive-date=October 9, 2022 |url-status=live}}</ref>
|-
|[[Nickel]]
|5
|<ref name=":4">{{cite web |title=USGS Nickel Production Statistics |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-nickel.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-nickel.pdf |archive-date=October 9, 2022 |url-status=live}}</ref>
|-
|[[Copper]]
|10
|<ref name=":5">{{cite web |title=USGS Copper Production Statistics |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-copper.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-copper.pdf |archive-date=October 9, 2022 |url-status=live}}</ref>
|-
|[[Iron ore|Iron]] (ore)
|8
|<ref name=":6">{{cite web |title=USGS Iron Ore Production Statistics |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-iron-ore.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-iron-ore.pdf |archive-date=October 9, 2022 |url-status=live}}</ref>
|-
|[[Titanium]]
|4
|<ref name=":7">{{cite web |title=USGS Titanium Production Statistics |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-titanium-minerals.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-titanium-minerals.pdf |archive-date=October 9, 2022 |url-status=live}}</ref>
|-
|[[Potash]]
|1
|<ref name=":8">{{cite web |title=USGS Potash Production Statistics |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-potash.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-potash.pdf |archive-date=October 9, 2022 |url-status=live}}</ref>
|-
|[[Niobium]]
|2
|<ref name=":9">{{cite web |title=USGS Niobium Production Statistics |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-niobium.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-niobium.pdf |archive-date=October 9, 2022 |url-status=live}}</ref>
|-
|[[Molybdenum]]||7||<ref>{{cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-molybdenum.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-molybdenum.pdf |archive-date=October 9, 2022 |url-status=live|title=USGS Molybdenum Production Statistics}}</ref>
|-
|[[Cobalt]]||7||<ref>{{cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-cobalt.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-cobalt.pdf |archive-date=October 9, 2022 |url-status=live|title=USGS Cobalt Production Statistics}}</ref>
|-
|[[Lithium]]||8||<ref>{{cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-lithium.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-lithium.pdf |archive-date=October 9, 2022 |url-status=live|title=USGS Lithium Production Statistics}}</ref>
|-
|[[Zinc]]||8||<ref>{{cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-zinc.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-zinc.pdf |archive-date=October 9, 2022 |url-status=live|title=USGS Zinc Production Statistics}}</ref>
|}
In 2019, the country was also the 4th largest world producer of [[sulfur]];<ref>{{cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-sulfur.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-sulfur.pdf |archive-date=October 9, 2022 |url-status=live|title=USGS Sulfur Production Statistics}}</ref> the 13th largest world producer of [[gypsum]];<ref>{{cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-gypsum.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-gypsum.pdf |archive-date=October 9, 2022 |url-status=live|title=USGS Gypsum Production Statistics}}</ref> the 14th worldwide producer of [[antimony]];<ref>{{Cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-antimony.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-antimony.pdf |archive-date=October 9, 2022 |url-status=live|title=USGS Antimony Production Statistics}}</ref> the world's 10th largest producer of [[graphite]];<ref>{{Cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-graphite.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-graphite.pdf |archive-date=October 9, 2022 |url-status=live|title=USGS Graphite Production Statistics}}</ref> in addition to being the 6th largest world producer of [[table salt|salt]].<ref>{{Cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-salt.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-salt.pdf |archive-date=October 9, 2022 |url-status=live|title=USGS Salt Production Statistics}}</ref> It was the 2nd largest producer in the world of [[uranium]] in 2018.<ref>{{Cite web|url=https://www.world-nuclear.org/information-library/nuclear-fuel-cycle/mining-of-uranium/world-uranium-mining-production.aspx|title=World Uranium Mining – World Nuclear Association|website=www.world-nuclear.org}}</ref>

===Energy===
{{Main|Energy in Canada}}
{{see also|Renewable energy in Canada}}

Canada has access to cheap sources of energy because of its geography. This has enabled the creation of several important industries, such as the large [[aluminium|aluminum]] industries in British Columbia<ref>{{cite web|url=http://www.guidetobceconomy.org/major_industries/resource_based.htm |title=Resource-based Industries and High-tech Manufacturing – Goods Sector – Major Industries – A Guide to the BC Economy and Labour Market |publisher=Guidetobceconomy.org |access-date=November 2, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110907052003/http://www.guidetobceconomy.org/major_industries/resource_based.htm |archive-date=September 7, 2011 }}</ref> and Quebec.<ref>{{cite web|last=Canadian |first=The |url=http://www.canadianmanufacturing.com/general/aluminum-heavyweights-to-make-15-billion-quebec-investment-43389 |title=Aluminum heavyweights to make $15-billion Quebec investment |publisher=Canadian Manufacturing |date=October 4, 2011 |access-date=November 2, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20111013193436/http://www.canadianmanufacturing.com/general/aluminum-heavyweights-to-make-15-billion-quebec-investment-43389 |archive-date=October 13, 2011 }}</ref> Canada is also one of the world's highest per capita consumers of energy.<ref>[http://www.ec.gc.ca/soer-ree/English/Indicators/Issues/Energy/Bulletin/ec_iss_e.cfm Environment Canada – Energy Consumption] {{webarchive |url=https://web.archive.org/web/20040222212419/http://www.ec.gc.ca/soer-ree/English/Indicators/Issues/Energy/Bulletin/ec_iss_e.cfm |date=February 22, 2004 }}</ref><ref>{{cite web |url=http://www.environmentalindicators.com/htdocs/indicators/8ener.htm |title=Canada vs. The OECD: An Environmental Comparison |publisher=Environmentalindicators.com |access-date=February 22, 2011 |archive-date=September 22, 2018 |archive-url=https://web.archive.org/web/20180922021650/http://www.environmentalindicators.com/htdocs/indicators/8ener.htm |url-status=dead }}</ref>

====Electricity====
{{Main|Electricity sector in Canada}}

The [[electricity sector]] in [[Canada]] has played a significant role in the economic and political life of the country since the late 19th century. The sector is organized along provincial and territorial lines. In a majority of provinces, large [[government-owned company|government-owned]] integrated public utilities play a leading role in the [[electricity generation|generation]], [[electric power transmission|transmission]] and [[electric power distribution|distribution]] of electricity.  [[Ontario]] and [[Alberta]] have created [[electricity market]]s in the last decade in order to increase investment and competition in this sector of the economy. In 2017, the electricity sector accounted for 10% of total national greenhouse gas emissions.<ref name=":0">{{Cite web|url=https://www.canada.ca/en/environment-climate-change/services/environmental-indicators/greenhouse-gas-emissions.html|title=Greenhouse gas emissions|date=January 9, 2007|website=Canada.ca|publisher=Environment and Climate Change Canada|url-status=dead|archive-url=https://web.archive.org/web/20200411165603/https://www.canada.ca/en/environment-climate-change/services/environmental-indicators/greenhouse-gas-emissions.html|archive-date=April 11, 2020|access-date=March 31, 2020}}</ref> Canada has substantial electricity trade with the neighbouring [[United States]] amounting to 72 TWh exports and 10 TWh imports in 2017.

[[Hydroelectricity]] accounted for 59% of all electric generation in Canada in 2016,<ref>{{citation|author=Natural Resources Canada|title=Electricity Facts|date=October 6, 2017|url=https://www.nrcan.gc.ca/energy/facts/electricity/20068#L3|access-date=March 31, 2020|archive-date=May 1, 2019|archive-url=https://web.archive.org/web/20190501204710/https://www.nrcan.gc.ca/energy/facts/electricity/20068#L3|url-status=dead}}</ref> making Canada the world's second-largest producer of hydroelectricity after China.<ref>{{citation |author=International Energy Agency |title=Key World Energy Statistics 2010 |publisher=IEA/OECD |location=Paris |page=19 |url=http://www.iea.org/textbase/nppdf/free/2010/key_stats_2010.pdf |access-date=September 7, 2010 |archive-url=https://web.archive.org/web/20101011091637/http://www.iea.org/textbase/nppdf/free/2010/key_stats_2010.pdf |archive-date=October 11, 2010 |url-status=dead }}</ref>  Since 1960, large hydroelectric projects, especially in [[Quebec]], [[British Columbia]], [[Manitoba]] and [[Newfoundland and Labrador]], have significantly increased the country's generation capacity.

The second-largest single source of power (15% of the total) is nuclear power, with several plants in Ontario generating more than half of that province's electricity and one generator in [[Point Lepreau Nuclear Generating Station|New Brunswick]]. This makes Canada the world's sixth-largest electricity producer generated by nuclear power, producing 95 TWh in 2017.<ref>{{cite web|title=Top 15 Nuclear Generating Countries|url=https://www.nei.org/resources/statistics/top-15-nuclear-generating-countries|publisher=Nuclear Energy Institute|access-date=March 31, 2019}}</ref>

Fossil fuels provide 19% of Canadian electric power, about half as coal (9% of the total), and the remainder a mix of natural gas and oil. Only five provinces use coal for electricity generation. Alberta, Saskatchewan, and Nova Scotia rely on coal for nearly half of their generation, while other provinces and territories use little or none. Alberta and Saskatchewan also use a substantial amount of natural gas. Remote communities, including all of Nunavut and much of the Northwest Territories, produce most of their electricity from diesel generators at high economic and environmental costs. The federal government has set up initiatives to reduce dependence on diesel-fired electricity.<ref>{{citation|author=Natural Resources Canada|title=Reducing diesel energy in rural and remote communities|date=January 30, 2018|url=https://www.nrcan.gc.ca/energy/science/programs-funding/20542|access-date=March 31, 2020|archive-date=June 12, 2019|archive-url=https://web.archive.org/web/20190612181027/https://www.nrcan.gc.ca/energy/science/programs-funding/20542|url-status=dead}}</ref>

Non-hydro renewables are a fast-growing portion of the total, at 7% in 2016.{{citation needed|date=March 2021}}

====Oil and gas====
{{Main|Petroleum industry in Canada|Fracking in Canada|Pipelines in Canada}}

[[File:SyncrudeWoodBuffalo.JPG|thumb|[[Syncrude]]'s Mildred Lake plant site at the [[Athabasca oil sands]] in [[Alberta]]]]

Canada possesses extensive oil and gas resources centered in Alberta, and the Northern Territories but is also present in neighboring [[British Columbia]] and [[Saskatchewan]]. The vast [[Athabasca oil sands]] give Canada the world's third-largest reserves of oil after Saudi Arabia and Venezuela, according to [[USGS]]. The oil and gas industry represents 27% of Canada's total [[greenhouse gas emissions]], an increase of 84% since 1990, mostly due to the development of the oil sands.<ref name=":0" />

Historically, an important issue in Canadian politics is the interplay between the oil and energy industry in [[Western Canada]] and the industrial heartland of Southern Ontario. Foreign investment in Western oil projects has fueled [[Canada]]'s rising dollar. This has raised the price of Ontario's manufacturing exports and made them less competitive, a problem similar to the [[Dutch disease|decline of the manufacturing sector in the Netherlands]].<ref>{{cite news|url=https://nationalpost.com/news/canada/growing-equalization-payments-to-ontario-threaten-country-expert|title=Growing Equalization Payments to Ontario Threaten Country|author=Lee Greenberg|date=July 20, 2011|newspaper=National Post}}</ref><ref>{{cite news|title=Does the Canadian economy suffer from Dutch Disease? |author1=Michel Beine |author2=Charles S. Bos |author3=Serge Coulombe |date=January 2009 |url=http://www.economie.uqam.ca/pages/docs/Beine_Michel.pdf |url-status=dead |archive-url=https://web.archive.org/web/20111117204453/http://www.economie.uqam.ca/pages/docs/Beine_Michel.pdf |archive-date=November 17, 2011 }}</ref>

The [[National Energy Policy]] of the early 1980s attempted to make Canada oil-sufficient and to ensure equal supply and price of oil in all parts of Canada, especially for the eastern manufacturing base.<ref name="canadian_eclopedia">{{citation |title=National Energy Program |encyclopedia=The Canadian Encyclopedia. Historica Foundation of Canada |date=January 2005 |url=https://www.thecanadianencyclopedia.ca/en/article/national-energy-program |access-date=March 31, 2020 |archive-date=May 19, 2018 |archive-url=https://web.archive.org/web/20180519131210/http://www.thecanadianencyclopedia.com/en/article/national-energy-program/ |url-status=live}}</ref> This policy proved deeply divisive as it forced Alberta to sell low-priced oil to eastern Canada.<ref name="National_Post_2012">{{citation |title=A legacy rich as oil: Ex-Alberta premier Peter Lougheed's ideas imprinted on party still in power 41 years later |first=Jen |last=Gerson |date=September 14, 2012 |url=https://nationalpost.com/news/canada/a-legacy-rich-as-oil-ex-alberta-premier-peter-lougheeds-ideas-imprinted-on-party-still-in-power-41-years-later |work=National Post |access-date=February 3, 2015}}</ref> The policy was eliminated 5 years after it was first announced amid a collapse of oil prices in 1985. The new Prime Minister [[Brian Mulroney]] had campaigned against the policy in the [[1984 Canadian federal election]]. One of the most controversial sections of the [[Canada–United States Free Trade Agreement]] of 1988 was a promise that Canada would never charge the United States more for energy than fellow Canadians.<ref name=":1">{{cite web|url=https://www.canada.ca/en/environment-climate-change/services/climate-change/greenhouse-gas-emissions/sources-sinks-executive-summary-2019.html|title=Greenhouse gas sources and sinks: executive summary 2019|date=August 19, 2019|website=aem|publisher=Environment and Climate Change Canada|url-status=dead|archive-url=https://web.archive.org/web/20200407201526/https://www.canada.ca/en/environment-climate-change/services/climate-change/greenhouse-gas-emissions/sources-sinks-executive-summary-2019.html|archive-date=April 7, 2020|access-date=March 31, 2020}}</ref>

===Agriculture, fishing, livestock and forestry===
{{Main|Agriculture in Canada|Aquaculture in Canada|Dairy farming in Canada|Fishing industry in Canada|Forestry in Canada}}
{{See also|Dairy and poultry supply management in Canada}}

[[File: InlandGrainTerminal.jpg|thumb|An inland grain terminal along the [[Yellowhead Highway]] in [[Saskatchewan]]]]
Canada is one of the world's largest suppliers of agricultural products, particularly wheat and other grains.<ref>{{cite web |url=http://dsp-psd.pwgsc.gc.ca/Collection-R/LoPBdP/modules/prb98-2-grain/grainmarket-e.htm |title=The Relative Position of Canada in the World Grain Market |publisher=Dsp-psd.pwgsc.gc.ca |date=October 2, 2002 |access-date=February 22, 2011 |archive-date=July 6, 2011 |archive-url=https://web.archive.org/web/20110706181918/http://dsp-psd.pwgsc.gc.ca/Collection-R/LoPBdP/modules/prb98-2-grain/grainmarket-e.htm |url-status=dead }}</ref> Canada is a major exporter of agricultural products, to the United States and Asia. As with all other developed nations, the proportion of the population and GDP devoted to agriculture fell dramatically over the 20th century. The agriculture and agri-food manufacturing sector created $49.0 billion to Canada's GDP in 2015, accounting for 2.6% of total GDP.<ref>{{Cite web|url=https://www150.statcan.gc.ca/n1/daily-quotidien/190730/dq190730a-eng.htm|title=Agriculture and Agri-Food Economic Account, 2015|website=Statistics Canada|date=July 30, 2019|access-date=July 30, 2019}}</ref>  This sector also accounts for 8.4% of Canada's Greenhouse gas emissions.<ref name=":1" />

The Canadian agriculture industry receives significant government subsidies and support as with other developed nations.<ref>{{Cite news |date=July 7, 2013 |title=Taxpayers oblivious to the cost of farm subsidies |url=https://www.theglobeandmail.com/report-on-business/taxpayers-oblivious-to-the-cost-of-farm-subsidies/article13055078/ |access-date=February 16, 2025 |work=The Globe and Mail |language=en-CA}}</ref> However, Canada has strongly supported reducing market influencing subsidies through the [[World Trade Organization]].{{Citation needed|date=February 2025}} In 2000, Canada spent approximately CDN$4.6 billion on support for the industry.{{citation needed|date=February 2025}} $2.32 billion was classified under the WTO designation of "green box" license, meaning it did not directly influence the market, such as money for research or disaster relief.{{citation needed|date=February 2025}} All but $848.2 million were subsidies worth less than 5% of the value of the crops they were provided for.{{citation needed|date=February 2025}}

==Infrastructure==
===Transportation===
{{Main|Transportation in Canada}}
{{See also|Roads in Canada|List of Canadian railways|List of airports in Canada|Category:Ports and harbours of Canada}}

{{excerpt|Transportation in Canada}}

===Water supply and sanitation===
{{Main|Water supply and sanitation in Canada}}

{{excerpt|Water supply and sanitation in Canada}}

==Science and technology==
{{Main|Science and technology in Canada}}
{{See also|Canadian industrial research and development organizations|Artificial intelligence industry in Canada|}}

{{excerpt|Science and technology in Canada}}

==Foreign trade==
{{See also|List of the largest trading partners of Canada|List of exports of Canada|List of tarriffs of Canada|Canadian import duties}}

===Free-trade agreements===
{{Main|Free-trade agreements of Canada}}

[[File:FTAs with Canada.svg|thumb|right|275px|{{Legend|#000|Canada}}{{Legend|#393|Free-trade areas}}]]

====Free-trade agreements in force====
<!-- For future editors, agreements are sorted from oldest to newest -->
:Source:<ref name="ftas">{{cite web|title=Trade and Investment Agreements|url=https://www.international.gc.ca/trade-commerce/trade-agreements-accords-commerciaux/agr-acc/index.aspx|archive-url=http://webarchive.loc.gov/all/20170212222117/https://www.international.gc.ca/trade-commerce/trade-agreements-accords-commerciaux/agr-acc/index.aspx|url-status=dead|archive-date=February 12, 2017|website=[[Global Affairs Canada]]|date=February 10, 2017|publisher=[[Government of Canada]]|access-date=August 18, 2020|language=en-ca}}</ref>
* [[Canada–Israel Free Trade Agreement]] (Entered into force January 1, 1997, modernization ongoing)
* [[Canada–Chile Free Trade Agreement]] (Entered into force July 5, 1997)
* [[Canada–Costa Rica Free Trade Agreement]] (Entered into force November 1, 2002, modernization ongoing)
* [[Canada–European Free Trade Association Free Trade Agreement]] (Iceland, Norway, Switzerland and Liechtenstein; entered into force July 1, 2009)
* [[Canada–Peru Free Trade Agreement]] (Entered into force August 1, 2009)
* [[Canada–Colombia Free Trade Agreement]] (Signed November 21, 2008, entered into force August 15, 2011; Canada's ratification of this FTA had been dependent upon Colombia's ratification of the "Agreement Concerning Annual Reports on Human Rights and Free Trade Between Canada and the Republic of Colombia" signed on May 27, 2010)
* Canada–Jordan Free Trade Agreement (Signed on June 28, 2009, entered into force October 1, 2012)
* [[Canada–Panama Free Trade Agreement]] (Signed on May 14, 2010, entered into force April 1, 2013)
* [[Canada–South Korea Free Trade Agreement]] (Signed on March 11, 2014, entered into force January 1, 2015)
* [[Canada–Ukraine Free Trade Agreement]] (Signed July 11, 2016, entered into force August 1, 2017)
* [[Comprehensive Economic and Trade Agreement]] with the [[European Union]] (EU) (signed October 30, 2016, entered into force September 21, 2017)
* [[Comprehensive and Progressive Agreement for Trans-Pacific Partnership]] (signed March 8, 2018, entered into force December 30, 2018)
* [[United States–Mexico–Canada Agreement|Canada–United States–Mexico Agreement]] (signed November 30, 2018, entered into force July 1, 2020)
* [[UK–Canada Trade Continuity Agreement|Canada–UK Trade Continuity Agreement]] (signed December 9, 2020, entered into force April 1, 2021)
* [[Canada-Indonesia Comprehensive Economic Partnership Agreement (CEPA)]] (signed September 24, 2025)

====Free-trade agreements no longer in force====
:Source:<ref name="ftas"/>
* [[Canada–U.S. Free Trade Agreement]] (signed October 12, 1987, entered into force January 1, 1989, later superseded by NAFTA)
* [[Trans-Pacific Partnership]] (concluded October 5, 2015, superseded by CPTPP)
* [[North American Free Trade Agreement]] (entered into force January 1, 1994, later superseded by USMCA)

====Ongoing free-trade agreements negotiations====
:Source:<ref name="Canada's Free Trade Agreements">{{cite web |url=http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/fta-ale.aspx?lang=eng |title=Canada's Free Trade Agreements |publisher=International.gc.ca |access-date=March 11, 2014 |archive-url=https://web.archive.org/web/20140312210043/http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/fta-ale.aspx?lang=eng |archive-date=March 12, 2014 |url-status=dead  }}</ref>
Canada is negotiating bilateral FTAs with the following countries respectively trade blocs:
* Caribbean Community ([[CARICOM]])
* [[Guatemala]], [[Nicaragua]] and [[El Salvador]]
* [[Dominican Republic]]
* [[India]]
* [[Japan]]<ref>{{cite news|author=The Canadian Press |url=https://www.cbc.ca/news/business/canada-japan-study-free-trade-pact-1.1042036 |title=Canada, Japan study free-trade pact|publisher=CBC News |date=February 24, 2011 |access-date=February 28, 2011}}</ref>
* [[Morocco]]
* [[Singapore]]
* [[Andean Community]] (FTA's are already in force with Peru and Colombia)

Canada has been involved in negotiations to create the following regional trade blocks:

* Canada and Central American Free Trade Agreement
* [[Free Trade Area of the Americas]] (FTAA)

==Government policies and finance==
{{Main|Canadian federal budget|Taxation in Canada}}
{{See also|Fiscal imbalance in Canada}}

{{excerpt|Canadian federal budget}}

===Political issues===

====Canada–United States trade relations====
{{Main|Canada–United States trade relations}}

Canada and the United States share a common trading relationship. Canada's job market continues to perform well along with the US, reaching a 30-year low in the unemployment rate in December 2006, following 14 consecutive years of employment growth.<ref>{{cite web|url=http://www.statcan.ca/Daily/English/070105/d070105a.htm |title=The Daily, Friday, January 5, 2007. Labour Force Survey |publisher=Statcan.ca |date=January 5, 2007 |access-date=February 22, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20080528012401/http://www.statcan.ca/Daily/English/070105/d070105a.htm |archive-date=May 28, 2008 }}</ref>
[[Image:Flags-of-usa-and-canada.jpg|thumb|Flags of Canada and the United States]]
The United States is by far Canada's largest trading partner, with more than $1.7 billion [[Canadian dollar|CAD]] in trade per day in 2005.<ref>{{Cite web | url=http://www40.statcan.ca/l01/cst01/gblec02a.htm | archive-url=https://web.archive.org/web/20060618224937/http://www40.statcan.ca/l01/cst01/gblec02a.htm | url-status=dead | archive-date=June 18, 2006 |title = Canadian Statistics – Imports, exports and trade balance of goods on a balance-of-payments basis, by country or country grouping}}</ref> In 2009, 73% of Canada's exports went to the United States, and 63% of Canada's imports were from the United States.<ref>{{cite web|url=http://www40.statcan.gc.ca/l01/cst01/gblec02a-eng.htm |title=Imports, exports and trade balance of goods on a balance-of-payments basis, by country or country grouping |publisher=0.statcan.gc.ca |date=February 11, 2011 |access-date=February 22, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110428174031/http://www40.statcan.gc.ca/l01/cst01/gblec02a-eng.htm |archive-date=April 28, 2011 }}</ref> Trade with Canada makes up 23% of the United States' exports and 17% of its imports.<ref>{{cite web|author=FTDWebMaster, [Name of person creating HTML] |url=https://www.census.gov/foreign-trade/statistics/highlights/top/top0512.html |title=FTD – Statistics – Trade Highlights – Top Trading Partners |publisher=Census.gov |access-date=February 22, 2011}}</ref>  By comparison, in 2005 this was more than U.S. trade with all countries in the European Union combined,<ref>{{cite web|author=FTDWebMaster, FTD Data Dissemination |url=https://www.census.gov/foreign-trade/balance/c0003.html |title=FTD – Statistics – Country Data – U.S. Trade Balance with European Union |publisher=Census.gov |access-date=February 22, 2011}}</ref> and well over twice U.S. trade with all the countries of [[Latin America]] combined.<ref>{{cite web|author=FTDWebMaster, FTD Data Dissemination |url=https://www.census.gov/foreign-trade/balance/c0009.html#2005 |title=FTD – Statistics – Country Data – U.S. Trade Balance with South and Central America |publisher=Census.gov |access-date=February 22, 2011}}</ref>  Just the two-way trade that crosses the [[Ambassador Bridge]] between [[Michigan]] and [[Ontario]] equals all U.S. exports to [[Japan]]. Canada's importance to the United States is not just a border-state phenomenon: Canada is the leading export market for 35 of 50 U.S. states, and is the United States' largest foreign supplier of energy.

Bilateral trade increased by 52% between 1989, when the U.S.–Canada Free Trade Agreement (FTA) went into effect, and 1994, when the [[North American Free Trade Agreement]] (NAFTA) superseded it.<ref>{{Cite web |title=International Trade |url=https://www.census.gov/foreign-trade/balance/c1220.html |access-date=April 12, 2023 |website=www.census.gov |language=EN-US}}</ref> Trade has since increased by 40%. NAFTA continues the FTA's moves toward reducing trade barriers and establishing agreed-upon trade rules. It also resolves some long-standing bilateral irritants and liberalizes rules in several areas, including agriculture, services, energy, financial services, investment, and government procurement. NAFTA forms the largest trading area in the world, embracing the 405 million people of the three North American countries.

The largest component of U.S.–Canada trade is in the energy sector.

The U.S. is Canada's largest agricultural export market, taking well over half of all Canadian food exports.<ref>[http://ats.agr.ca/stats/4141_e.pdf Agriculture and Agri-Food Canada / Agriculture et Agroalimentaire Canada<!-- Bot generated title -->] {{webarchive |url=https://web.archive.org/web/20060928080738/http://ats.agr.ca/stats/4141_e.pdf |date=September 28, 2006 }}</ref> Nearly two-thirds of Canada's forest products, including [[pulp (paper)|pulp]] and [[paper]], are exported to the United States; 72% of Canada's total [[newsprint]] production also is exported to the U.S.

At [https://web.archive.org/web/20060411203756/http://www.nrcan.gc.ca/statistics/energy/default.html $73.6] billion in 2004, U.S.-Canada trade in [[energy development|energy]] is the largest U.S. energy trading relationship, with the overwhelming majority ($66.7 billion) being exports from Canada. The primary components of U.S. energy trade with Canada are [[petroleum]], [[natural gas]], and [[electricity]]. Canada is the United States' largest oil supplier and the fifth-largest energy producing country in the world. Canada provides about 16% of U.S. oil imports and 14% of total U.S. consumption of natural gas. The United States and Canada's national electricity grids are linked, and both countries share [[hydropower]] facilities on the western borders.

While most of U.S.-Canada trade flows smoothly, there are occasionally bilateral trade disputes, particularly in the agricultural and cultural fields.{{Citation needed|date=May 2007}} Usually these issues are resolved through bilateral consultative forums or referral to [[World Trade Organization]] (WTO) or NAFTA dispute resolution.{{Citation needed|date=May 2007}} In May 1999, the U.S. and Canadian governments negotiated an agreement on [[magazine]]s that provides increased access for the U.S. [[publishing]] industry to the Canadian market. The United States and Canada also have resolved several major issues involving [[fishery|fisheries]]. By common agreement, the two countries submitted a [[Gulf of Maine]] boundary dispute to the [[International Court of Justice]] in 1981; both accepted the court's October 12, 1984, ruling which demarcated the territorial sea boundary. A current issue between the United States and Canada is the ongoing [[Canada–United States softwood lumber dispute|softwood lumber dispute]], as the U.S. alleges that Canada unfairly subsidizes its forestry industry.{{Citation needed|date=May 2007}}

In 1990, the United States and Canada signed a bilateral Fisheries Enforcement Agreement, which has served to deter [[illegal, unreported and unregulated fishing|illegal fishing]] activity and reduce the risk of injury during fisheries enforcement incidents. The U.S. and Canada signed a [[Pacific Salmon]] Agreement in June 1999 that settled differences over implementation of the 1985 Pacific Salmon Treaty for the next decade.<ref>{{cite web|title=The Pacific Salmon Treaty: The 1999 Agreement and Renegotiated Annex IV|url=https://www.everycrsreport.com/reports/RL30234.html|website=EveryCRSReport.com|date=May 5, 2009}}</ref>

Canada and the United States signed an [[aviation]] agreement during [[Bill Clinton]]'s visit to Canada in February 1995, and air traffic between the two countries has increased dramatically as a result. The two countries also share in operation of the [[St. Lawrence Seaway]], connecting the [[Great Lakes]] to the [[Atlantic Ocean]].<ref>{{cite web |url=http://geography.howstuffworks.com/united-states/the-st-lawrence-seaway.htm |title=HowStuffWorks "The St. Lawrence Seaway" |publisher=Geography.howstuffworks.com |date=March 30, 2008 |access-date=February 22, 2011 |archive-url=https://web.archive.org/web/20110712224326/http://geography.howstuffworks.com/united-states/the-st-lawrence-seaway.htm |archive-date=July 12, 2011 |url-status=dead }}</ref>

The U.S. remains Canada's largest foreign investor and the most popular destination for Canadian foreign investments. In 2018, the stock of U.S. direct investment in Canada totaled $406 billion, while the stock of Canadian investment in the U.S. totaled $595 billion, or 46% of the overall CDIA stock for 2018.<ref>{{Cite web|last1=Canada |first1=Global Affairs |url=https://www.international.gc.ca/gac-amc/publications/economist-economiste/state_of_trade-commerce_international-2019.aspx?lang=eng|title=Canada's State of Trade 2019|work=GAC |date=August 2, 2019|publisher=Global Affairs Canada|access-date=September 26, 2019|edition=20th}}</ref><ref>{{cite web|last1=Canada |first1=Global Affairs |url=https://www.international.gc.ca/gac-amc/publications/economist-economiste/state_of_trade-commerce_international-2019.aspx?lang=eng|title=Canada's State of Trade 2019|work=GAC |date=August 2, 2019|publisher=Global Affairs Canada|access-date=September 26, 2019|edition=20th}}</ref> This made Canada the second largest investing country in the U.S. for 2018<ref>{{cite web|url=https://www.bea.gov/news/2019/direct-investment-country-and-industry-2018|title=Direct Investment by Country and Industry, 2018|date=July 24, 2019|website=Bureau of Economic Analysis|access-date=September 26, 2019}}</ref> US investments are primarily directed at Canada's [[mining]] and [[smelting]] industries, petroleum, chemicals, the manufacture of machinery and transportation equipment, and finance, while Canadian investment in the United States is concentrated in manufacturing, wholesale trade, real estate, petroleum, finance, insurance and other services.<ref>{{cite web|url=http://www2.parl.gc.ca/Content/LOP/ResearchPublications/prb0833-e.htm#Foreign |title=Overview of Canadian Foreign Direct Investment (PRB-0833E) |publisher=.parl.gc.ca |date=June 17, 2008 |access-date=February 22, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20100502040700/http://www2.parl.gc.ca/Content/LOP/ResearchPublications/prb0833-e.htm |archive-date=May 2, 2010 }}</ref>

====Immigration====
{{See also|Economic impact of immigration to Canada}}

===Welfare===
{{See also|Social programs in Canada|Pensions in Canada}}

===Labour and employment===
{{See also|Canadian labour law|List of Canadian provinces by unemployment rate}}

===Income and poverty===
{{See also|Minimum wage in Canada|Poverty in Canada}}

===Debt===
[[File:Canada bonds.webp|thumb|350px|{{center|Canada bonds}} [[Inverted yield curve]] in 2006–2007 and 2019
{{legend-line|#00A2FF solid 3px|30 year}}
{{legend-line|#61D836 solid 3px|10 year}}
{{legend-line|#929292 solid 3px|2 year}}
{{legend-line|#F8BA00 solid 3px|1 year}}
{{legend-line|#FF2600 solid 3px|3 month}}
{{legend-line|#D41876 solid 3px|1 month}}
]]

====Canadian government debt====

[[Canadian public debt|Canadian government debt]], also called Canada's public debt, is the liabilities of the government sector.  For 2019 (the fiscal year ending March 31, 2020), total financial liabilities or gross debt was $2.434 trillion for the consolidated Canadian general government (federal, provincial, territorial, and local governments combined).  This corresponds to 105.3% as a ratio of GDP (GDP was $2.311 trillion).<ref name="SC_largeDeficit">{{Cite web|last=Statistics Canada|first=The Daily|date=November 18, 2020|title=Largest deficit in seven years in 2019; full impact of pandemic yet to be seen|url=https://www150.statcan.gc.ca/n1/daily-quotidien/201118/dq201118b-eng.htm}}</ref>  Of the $2.434 trillion, $1.146 trillion or 47% was federal (central) government liabilities (49.6% as a ratio of GDP).  Provincial government liabilities comprise most of the remaining liabilities.<ref name="SC_largeDeficit"/>

====Household debt====
[[Household debt]], the amount of money that all adults in the household owe financial institutions, includes [[consumer debt]] and [[mortgage loan]]s. In March 2015, the International Monetary Fund reported that Canada's high household debt was one of two vulnerable domestic areas in Canada's economy; the second is its [[Canadian property bubble|overheated housing market]].<ref name="IMF_2015_CA">{{citation |title=2015 Report of the International Monetary Fund|work=International Monetary Fund |date=March 9, 2015 }}</ref>

According to Statistics Canada, [https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1010011801 total household credit] as of July 2019 was CAD$2.2 trillion.<ref name="Statistics Canada">{{citation|url=https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1010011801 |title=Credit measures, Bank of Canada (x 1,000,000) |author=Statistics Canada |access-date=September 15, 2019 |date=July 2019 }}</ref> According to Philip Cross of the [[Fraser Institute]], in May 2015, while the Canadian household debt-to-income ratio is similar to that in the US, however lending standards in Canada are tighter than those in the United States to protect against high-risk borrowers taking out unsustainable debt.<ref name="Fraser2015">{{citation|url=https://www.fraserinstitute.org/uploadedFiles/fraser-ca/Content/research-news/research/publications/longer-term-perspective-on-canadas-household-debt.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://www.fraserinstitute.org/uploadedFiles/fraser-ca/Content/research-news/research/publications/longer-term-perspective-on-canadas-household-debt.pdf |archive-date=October 9, 2022 |url-status=live |title=A Longer-term Perspective on Canada's Household Debt |author=Philip Cross |access-date=August 7, 2015 |date=May 2015 }} {{dead link|date=December 2016 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

==Mergers and acquisitions==
{{See also|List of largest companies of Canada}}

Since 1985, 63,755 deals in- and outbound Canada have been announced,{{when|date=March 2018}} with an overall value of US$3.7 billion.<ref name="IMAA-Institute">{{Cite news|url=https://imaa-institute.org/m-and-a-canada/|title=M&A Canada – Mergers & Acquisitions Statistics|work=IMAA-Institute|access-date=February 22, 2018|language=en-US}}</ref> Almost 50% of the targets of Canadian companies (outbound deals) have a parent company in the US. Inbound deals are 82% percent from the US.

Here is a list of the biggest deals in Canadian history:<ref name="IMAA-Institute"/>
{| class="wikitable"
! scope="col" |Rank
! scope="col" |Date announced
! scope="col" |Acquiror name
! scope="col" |Acquiror nation
! scope="col" |Target name
! scope="col" |Target nation
! scope="col" |Value (in bil. USD)
|-
|1
|January 26, 2000
|Spin-off
|Canada
|Nortel Networks Corp
|Canada
|59.97
|-
|2
|June 20, 2000
|Vivendi SA
|France
|Seagram Co Ltd
|Canada
|40.43
|-
|3
|December 7, 2007
|Rio Tinto Canada Holdings Inc
|Canada
|Alcan Inc
|Canada
|37.63
|-
|4
|June 9, 2016
|Enbridge Inc
|Canada
|Spectra Energy Corp
|United States
|28.29
|-
|5
|March 12, 2014
|Enbridge Income Fund
|Canada
|Enbridge Inc-Liquids
|Canada
|24.79
|-
|6
|November 5, 2008
|Shareholders
|Canada
|Cenovus Energy Inc
|Canada
|20.26
|-
|7
|July 23, 2012
|CNOOC Canada Holding Ltd
|Canada
|Nexen Inc
|Canada
|19.12
|-
|8
|May 15, 2006
|Xstrata PLC
|Switzerland
|Falconbridge Ltd
|Canada
|17.40
|-
|9
|November 8, 2006
|Cia Vale do Rio Doce SA
|Brazil
|Inco Ltd
|Canada
|17.15
|-
|10
|March 23, 2009
|Suncor Energy Inc
|Canada
|Petro-Canada
|Canada
|15.58
|-
|11
|July 29, 2008
|Teck Cominco Ltd
|Canada
|Fording Canadian Coal Trust
|Canada
|13.60
|}

==Raw data==
The following table shows the main economic indicators in 1980–2021 (with IMF staff estimates for 2022–2027). Inflation below 5% is in green.<ref>{{cite web | url=https://www.imf.org/en/Publications/WEO/weo-database/2022/October/weo-report?c=156,&s=NGDP_RPCH,NGDPD,PPPGDP,NGDPDPC,PPPPC,PCPIPCH,LUR,GGXWDG_NGDP,&sy=1980&ey=2027&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 | title=Report for Selected Countries and Subjects }}</ref>
{| class="wikitable mw-collapsible mw-collapsed" style="text-align:center;"
!Year
!GDP
<small>(in Bil. US$PPP)</small>
!GDP per capita
<small>(in US$ PPP)</small>
!GDP
<small>(in Bil. US$nominal)</small>
!GDP per capita
<small>(in US$ nominal)</small>
!GDP growth
<small>(real)</small>
!Inflation rate
<small>(in Percent)</small>
!Unemployment
<small>(in Percent)</small>
!Government debt
<small>(in % of GDP)</small>
|-
|1980
|288.7
|11,798.2
|276.1
|11,281.4
|{{Increase}}2.2%
|{{IncreaseNegative}}10.2%
|7.5%
|44.6%
|-
|1981
|{{Increase}}327.1
|{{Increase}}13,197.5
|{{Increase}}307.2
|{{Increase}}12,396.7
|{{Increase}}3.5%
|{{IncreaseNegative}}12.5%
|{{IncreaseNegative}}7.6%
|{{IncreaseNegative}}46.1%
|-
|1982
|{{Increase}}336.2
|{{Increase}}13,404.9
|{{Increase}}314.6
|{{Increase}}12,543.9
|{{Decrease}}-3.2%
|{{IncreaseNegative}}10.8%
|{{IncreaseNegative}}11.1%
|{{IncreaseNegative}}51.7%
|-
|1983
|{{Increase}}358.5
|{{Increase}}14,149.5
|{{Increase}}341.9
|{{Increase}}13,493.2
|{{Increase}}2.6%
|{{IncreaseNegative}}5.8%
|{{IncreaseNegative}}12.0%
|{{IncreaseNegative}}57.2%
|-
|1984
|{{Increase}}393.4
|{{Increase}}15,380.2
|{{Increase}}356.7
|{{Increase}}13,947.4
|{{Increase}}5.9%
|{{Increase}}4.3%
|{{DecreasePositive}}11.4%
|{{IncreaseNegative}}60.2%
|-
|1985
|{{Increase}}425.0
|{{Increase}}16,466.0
|{{Increase}}366.2
|{{Increase}}14,185.9
|{{Increase}}4.7%
|{{Increase}}4.0%
|{{DecreasePositive}}10.5%
|{{IncreaseNegative}}65.2%
|-
|1986
|{{Increase}}442.9
|{{Increase}}16,990.4
|{{Increase}}379.0
|{{Increase}}14,539.8
|{{Increase}}2.1%
|{{Increase}}4.2%
|{{DecreasePositive}}9.6%
|{{IncreaseNegative}}69.3%
|-
|1987
|{{Increase}}472.3
|{{Increase}}17,893.0
|{{Increase}}433.1
|{{Increase}}16,408.1
|{{Increase}}4.1%
|{{Increase}}4.4%
|{{DecreasePositive}}8.8%
|{{IncreaseNegative}}69.8%
|-
|1988
|{{Increase}}510.6
|{{Increase}}19,085.3
|{{Increase}}509.4
|{{Increase}}19,041.2
|{{Increase}}4.4%
|{{Increase}}4.0%
|{{DecreasePositive}}7.8%
|{{DecreasePositive}}69.7%
|-
|1989
|{{Increase}}542.9
|{{Increase}}19,947.7
|{{Increase}}567.2
|{{Increase}}20,842.5
|{{Increase}}2.3%
|{{Increase}}5.0%
|{{DecreasePositive}}7.5%
|{{IncreaseNegative}}71.0%
|-
|1990
|{{Increase}}564.1
|{{Increase}}20,415.1
|{{Increase}}596.1
|{{Increase}}21,572.1
|{{Increase}}0.2%
|{{Increase}}4.8%
|{{IncreaseNegative}}8.2%
|{{IncreaseNegative}}73.7%
|-
|1991
|{{Increase}}571.0
|{{Decrease}}20,403.3
|{{Increase}}612.5
|{{Increase}}21,885.6
|{{Decrease}}-2.1%
|{{IncreaseNegative}}5.6%
|{{IncreaseNegative}}10.3%
|{{IncreaseNegative}}81.7%
|-
|1992
|{{Increase}}589.3
|{{Increase}}20,805.6
|{{Decrease}}594.4
|{{Decrease}}20,984.8
|{{Increase}}0.9%
|{{Increase}}1.5%
|{{IncreaseNegative}}11.2%
|{{IncreaseNegative}}88.2%
|-
|1993
|{{Increase}}619.3
|{{Increase}}21,615.6
|{{Decrease}}579.1
|{{Decrease}}20,210.5
|{{Increase}}2.7%
|{{Increase}}1.9%
|{{IncreaseNegative}}11.4%
|{{IncreaseNegative}}94.7%
|-
|1994
|{{Increase}}661.0
|{{Increase}}22,823.8
|{{Increase}}579.9
|{{Decrease}}20,024.6
|{{Increase}}4.5%
|{{Increase}}0.2%
|{{DecreasePositive}}10.4%
|{{IncreaseNegative}}97.5%
|-
|1995
|{{Increase}}693.0
|{{Increase}}23,682.4
|{{Increase}}605.9
|{{Increase}}20,706.7
|{{Increase}}2.7%
|{{Increase}}2.1%
|{{DecreasePositive}}9.5%
|{{IncreaseNegative}}100.1%
|-
|1996
|{{Increase}}717.1
|{{Increase}}24,252.2
|{{Increase}}630.6
|{{Increase}}21,325.7
|{{Increase}}1.6%
|{{Increase}}1.6%
|{{IncreaseNegative}}9.6%
|{{IncreaseNegative}}100.2%
|-
|1997
|{{Increase}}760.7
|{{Increase}}25,469.8
|{{Increase}}655.0
|{{Increase}}21,930.5
|{{Increase}}4.3%
|{{Increase}}1.6%
|{{DecreasePositive}}9.1%
|{{DecreasePositive}}95.3%
|-
|1998
|{{Increase}}799.3
|{{Increase}}26,532.4
|{{Decrease}}634.0
|{{Decrease}}21,046.6
|{{Increase}}3.9%
|{{Increase}}1.0%
|{{DecreasePositive}}8.3%
|{{DecreasePositive}}93.3%
|-
|1999
|{{Increase}}852.4
|{{Increase}}28,068.8
|{{Increase}}678.4
|{{Increase}}22,340.6
|{{Increase}}5.2%
|{{Increase}}1.7%
|{{DecreasePositive}}7.6%
|{{DecreasePositive}}89.0%
|-
|2000
|{{Increase}}916.8
|{{Increase}}29,914.7
|{{Increase}}744.6
|{{Increase}}24,296.7
|{{Increase}}5.2%
|{{Increase}}2.7%
|{{DecreasePositive}}6.8%
|{{DecreasePositive}}80.4%
|-
|2001
|{{Increase}}954.2
|{{Increase}}30,810.5
|{{Decrease}}739.0
|{{Decrease}}23,859.7
|{{Increase}}1.8%
|{{Increase}}2.5%
|{{IncreaseNegative}}7.2%
|{{IncreaseNegative}}81.5%
|-
|2002
|{{Increase}}998.4
|{{Increase}}31,887.8
|{{Increase}}760.1
|{{Increase}}24,279.2
|{{Increase}}3.0%
|{{Increase}}2.3%
|{{IncreaseNegative}}7.7%
|{{DecreasePositive}}79.6%
|-
|2003
|{{Increase}}1,036.4
|{{Increase}}32,794.3
|{{Increase}}895.6
|{{Increase}}28,338.7
|{{Increase}}1.8%
|{{Increase}}2.8%
|{{DecreasePositive}}7.6%
|{{DecreasePositive}}75.9%
|-
|2004
|{{Increase}}1,097.1
|{{Increase}}34,390.0
|{{Increase}}1,026.5
|{{Increase}}32,176.6
|{{Increase}}3.1%
|{{Increase}}1.9%
|{{DecreasePositive}}7.2%
|{{DecreasePositive}}71.9%
|-
|2005
|{{Increase}}1,167.7
|{{Increase}}36,260.7
|{{Increase}}1,173.5
|{{Increase}}36,439.6
|{{Increase}}3.2%
|{{Increase}}2.2%
|{{DecreasePositive}}6.8%
|{{DecreasePositive}}70.6%
|-
|2006
|{{Increase}}1,235.5
|{{Increase}}37,980.7
|{{Increase}}1,319.4
|{{Increase}}40,558.9
|{{Increase}}2.6%
|{{Increase}}2.0%
|{{DecreasePositive}}6.3%
|{{DecreasePositive}}69.9%
|-
|2007
|{{Increase}}1,295.2
|{{Increase}}39,428.2
|{{Increase}}1,468.9
|{{Increase}}44,717.0
|{{Increase}}2.1%
|{{Increase}}2.1%
|{{DecreasePositive}}6.1%
|{{DecreasePositive}}66.9%
|-
|2008
|{{Increase}}1,333.3
|{{Increase}}40,159.1
|{{Increase}}1,552.9
|{{Increase}}46,773.8
|{{Increase}}1.0%
|{{Increase}}2.4%
|{{IncreaseNegative}}6.2%
|{{IncreaseNegative}}67.9%
|-
|2009
|{{Decrease}}1,302.5
|{{Decrease}}38,788.0
|{{Decrease}}1,376.5
|{{Decrease}}40,990.6
|{{Decrease}}-2.9%
|{{Increase}}0.3%
|{{IncreaseNegative}}8.4%
|{{IncreaseNegative}}79.3%
|-
|2010
|{{Increase}}1,358.9
|{{Increase}}40,017.6
|{{Increase}}1,617.3
|{{Increase}}47,627.3
|{{Increase}}3.1%
|{{Increase}}1.8%
|{{DecreasePositive}}8.1%
|{{IncreaseNegative}}81.2%
|-
|2011
|{{Increase}}1,430.8
|{{Increase}}41,716.4
|{{Increase}}1,793.3
|{{Increase}}52,285.9
|{{Increase}}3.1%
|{{Increase}}2.9%
|{{DecreasePositive}}7.6%
|{{IncreaseNegative}}81.8%
|-
|2012
|{{Increase}}1,468.1
|{{Increase}}42,351.1
|{{Increase}}1,828.4
|{{Increase}}52,744.0
|{{Increase}}1.8%
|{{Increase}}1.5%
|{{DecreasePositive}}7.4%
|{{IncreaseNegative}}85.4%
|-
|2013
|{{Increase}}1,554.1
|{{Increase}}44,360.4
|{{Increase}}1,846.6
|{{Decrease}}52,708.6
|{{Increase}}2.3%
|{{Increase}}0.9%
|{{DecreasePositive}}7.1%
|{{IncreaseNegative}}86.1%
|-
|2014
|{{Increase}}1,621.4
|{{Increase}}45,812.0
|{{Decrease}}1,805.8
|{{Decrease}}51,020.8
|{{Increase}}2.9%
|{{Increase}}1.9%
|{{DecreasePositive}}7.0%
|{{DecreasePositive}}85.6%
|-
|2015
|{{Decrease}}1,594.9
|{{Decrease}}44,702.5
|{{Decrease}}1,556.5
|{{Decrease}}43,626.5
|{{Increase}}0.7%
|{{Increase}}1.1%
|{{DecreasePositive}}6.9%
|{{IncreaseNegative}}91.2%
|-
|2016
|{{Increase}}1,678.4
|{{Increase}}46,554.1
|{{Decrease}}1,528.0
|{{Decrease}}42,382.6
|{{Increase}}1.0%
|{{Increase}}1.4%
|{{IncreaseNegative}}7.1%
|{{IncreaseNegative}}91.8%
|-
|2017
|{{Increase}}1,776.9
|{{Increase}}48,688.1
|{{Increase}}1,649.3
|{{Increase}}45,192.0
|{{Increase}}3.0%
|{{Increase}}1.6%
|{{DecreasePositive}}6.4%
|{{DecreasePositive}}88.9%
|-
|2018
|{{Increase}}1,869.8
|{{Increase}}50,531.6
|{{Increase}}1,725.3
|{{Increase}}46,625.9
|{{Increase}}2.8%
|{{Increase}}2.3%
|{{DecreasePositive}}5.9%
|{{Steady}}88.9%
|-
|2019
|{{Increase}}1,939.0
|{{Increase}}51,652.6
|{{Increase}}1,742.0
|{{Decrease}}46,404.0
|{{Increase}}1.9%
|{{Increase}}1.9%
|{{DecreasePositive}}5.8%
|{{DecreasePositive}}87.2%
|-
|2020
|{{Decrease}}1,859.7
|{{Decrease}}48,946.8
|{{Decrease}}1,645.4
|{{Decrease}}43,306.6
|{{Decrease}}-5.2%
|{{Increase}}0.7%
|{{IncreaseNegative}}9.6%
|{{IncreaseNegative}}117.8%
|-
|2021
|{{Increase}}2,025.0
|{{Increase}}52,973.0
|{{Increase}}1,988.3
|{{Increase}}52,015.1
|{{Increase}}4.5%
|{{Increase}}3.4%
|{{DecreasePositive}}7.4%
|{{DecreasePositive}}112.9%
|-
|2022
|{{Increase}}2,240.4
|{{Increase}}57,827.5
|{{Increase}}2,200.4
|{{Increase}}56,794.0
|{{Increase}}3.3%
|{{IncreaseNegative}}6.9%
|{{DecreasePositive}}5.3%
|{{DecreasePositive}}102.2%
|-
|2023
|{{Increase}}2,353.9
|{{Increase}}59,872.2
|{{Increase}}2,326.6
|{{Increase}}59,179.0
|{{Increase}}1.5%
|{{Increase}}4.2%
|{{IncreaseNegative}}5.9%
|{{DecreasePositive}}98.7%
|-
|2024
|{{Increase}}2,441.8
|{{Increase}}61,274.7
|{{Increase}}2,420.7
|{{Increase}}60,745.3
|{{Increase}}1.6%
|{{Increase}}2.4%
|{{IncreaseNegative}}6.2%
|{{DecreasePositive}}96.3%
|-
|2025
|{{Increase}}2,544.9
|{{Increase}}63,042.6
|{{Increase}}2,531.2
|{{Increase}}62,703.5
|{{Increase}}2.3%
|{{Increase}}1.9%
|{{DecreasePositive}}6.1%
|{{DecreasePositive}}93.3%
|-
|2026
|{{Increase}}2,642.5
|{{Increase}}64,649.4
|{{Increase}}2,630.3
|{{Increase}}64,352.5
|{{Increase}}1.9%
|{{Increase}}1.9%
|{{DecreasePositive}}6.0%
|{{DecreasePositive}}90.9%
|-
|2027
|{{Increase}}2,739.4
|{{Increase}}66,221.6
|{{Increase}}2,728.4
|{{Increase}}65,954.5
|{{Increase}}1.7%
|{{Increase}}2.0%
|{{Steady}}6.0%
|{{DecreasePositive}}88.7%
|}

===Unemployment & Participation rate===
{| class="sortable wikitable" style="text-align: right"
|-
! Province
! Unemployment rate<br />percentage of labour force<br />as of April 2025<ref>{{Cite web |date=May 9, 2025 |title=Labour force characteristics by province, monthly, seasonally adjusted |url=https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410028703&pickMembers%5B0%5D=3.1&pickMembers%5B1%5D=4.1&cubeTimeFrame.startMonth=05&cubeTimeFrame.startYear=2025&referencePeriods=20250501%2C20250501 |access-date=May 27, 2025 |website=www150.statcan.gc.ca |publisher=Government of Canada, Statistics Canada |language=en}}</ref>
!Participation
Rate
!Employment
|-
|style="text-align: left" |[[Alberta]]
|{{DecreasePositive}}7.1%
|{{Decrease}}68.5%
|2,565,800
|-
|style="text-align: left" |[[British Columbia]]
|{{increaseNegative}}6.2%
|{{Decrease}}65.1%
|2,950,900
|-
|style="text-align: left" |[[Manitoba]]
|{{increaseNegative}}5.3%
|{{Decrease}}66.4%
|736,000
|-
|style="text-align: left" |[[Newfoundland and Labrador]]
|{{DecreasePositive}}9.6%
|{{Increase}}58.3%
|248,100
|-
|style="text-align: left" |[[New Brunswick]]
|{{DecreasePositive}}6.9%
|{{Decrease}}59.8%
|400,400
|-
|style="text-align:left" |[[Nova Scotia]]
|{{increaseNegative}}7.2%
|{{Decrease}}61.0%
|516,400
|-
|style="text-align: left" | [[Ontario]]
|{{increaseNegative}}7.8%
|{{Decrease}}65.0%
|8,195,200
|-
|style="text-align: left" | [[Prince Edward Island]]
|{{DecreasePositive}}6.6%
|{{Increase}}65.9%
|94,300
|-
|style="text-align: left" | [[Quebec]]
|{{increaseNegative}}6.0%
|{{Increase}}65.3%
|4,645,600
|-
|style="text-align: left" | [[Saskatchewan]]
|{{DecreasePositive}}4.3%
|{{Decrease}}66.8%
|616,000
|-
|style="text-align: left" data-sort-value="ZZZZZZ" | '''Canada (national)'''
|{{increaseNegative}}6.9%
|{{Decrease}}65.3%
|'''20,969,300'''
|}

===Export trade===
Export trade from Canada measured in US dollars. In 2021, Canada exported US$503.4 billion.

That dollar amount reflects a 19.5% gain since 2017 and a 29.1% increase from 2020 to 2021.<ref name="scw">{{cite web |last1=Workman |first1=Daniel |date=March 4, 2022 |title=Canada's Top Trading Partners |url=https://www.worldstopexports.com/canadas-top-import-partners/ |access-date=July 14, 2022 |website=World's Top Exports}}</ref>
{| class="sortable wikitable" style="text-align: right"
|-
!Partner
!Value
!Fraction
|-
|[[United States]]
| $380.4 billion
|75.6%
|-
|[[China]]
| $23 billion
|4.6%
|-
|[[United Kingdom]]
| $12.9 billion
|2.6%
|-
|[[Japan]]
| $11.5 billion
|2.3%
|-
|[[Mexico]]
| $6.5 billion
|1.3%
|-
|[[Germany]]
| $5.5 billion
|1.1%
|-
|[[South Korea]]
|$4.5 billion
|0.9%
|-
|[[Netherlands]]
|$3.8 billion
|0.8%
|-
|[[France]]
|$3.2 billion
|0.6%
|-
|[[Belgium]]
|$3.0 billion
|0.6%
|-
|[[Hong Kong]]
|$2.8 billion
|0.6%
|-
|[[Norway]]
|$2.5 billion
|0.5%
|-
|[[Switzerland]]
|$1.6 billion
|0.5%
|-
|[[India]]
|$2.35 billion
|0.5%
|-
|[[Italy]]
|$2.1 billion
|0.4%
|-
|}

===Import trade===
Import trade in 2017 measured in US dollars.<ref name="msu">{{cite web |title=Canada: Trade Statistics |url=https://globaledge.msu.edu/countries/canada/tradestats |publisher=Michigan State University}}</ref>

{| class="sortable wikitable" style="text-align: right"
|-
!Partner
!Value
!Fraction
|-
|[[United States]]
| $222.0 billion
| 51.3%
|-
||[[China]]
| $54.7 billion
| 12.7%
|-
|[[Mexico]]
| $27.4 billion
|  6.3%
|-
|[[Germany]]
| $13.8 billion
| 3.2%
|-
|[[Japan]]
| $13.5 billion
| 3.1%
|-
|[[United Kingdom]]
| $6.9 billion
| 1.6%
|-
|[[South Korea]]
| $6.7 billion
| 1.5%
|-
|[[Italy]]
| $6.3 billion
| 1.5%
|-
|[[France]]
| $4.8 billion
| 1.1%
|-
|[[Vietnam]]
| $3.9 billion
| 0.9%
|}

==See also==
{{portal|border=no|Canada}}
{{Canada provinces map|border=none|align=right|prefix =Economy of|caption=Economy by province }}
*[[List of companies of Canada]]
*[[Canada's Global Markets Action Plan]]
*[[Comparison of Canadian and American economies]]
*[[Economy of Alberta]]
*[[Economy of Ontario]]
*[[Economy of Quebec]]
*[[Economy of Saskatchewan]]
*[[History of the petroleum industry in Canada]]
*[[Land ownership in Canada]]
*[[List of Median household income of cities in Canada]]
*[[List of Commonwealth of Nations countries by GDP]]
*[[List of Canadian provinces and territories by gross domestic product]]
*[[List of trade unions in Canada]]

==Notes==
{{Reflist|group=notes}}
{{Reflist|group=note}}

*{{cite web |url=https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610043403 |website=www150.statcan.gc.ca|title=Gross domestic product (GDP) at basic prices, by industry|date=January 31, 2013}}

==References==
{{Reflist|30em}}

==Further reading==
{{Main|Bibliography of Canadian economic history}}
{{Refbegin|30em}}
* Howlett, Michael and M. Ramesh. ''Political Economy of Canada: An Introduction.'' Toronto: McClelland and Stewart, 1992.
* Wallace, Iain, ''A Geography of the Canadian Economy.'' Don Mills: Oxford University Press, 2002.
* {{citation |work=Organización para la Cooperación y Desarrollo Económicos |year =2010 |title =OECD Economic Surveys: Canada 2010 |url =https://books.google.com/books?id=tvLuZ2iQAqkC&q=OECD+economic+survey.+Canada%22+2010|publisher=Paris : OECD economic surveys |isbn=978-92-64-08325-7 }}
* {{citation |last = Baldwin |first =John Russel |year =2003 |title = Innovation and knowledge creation in an open economy |url =https://books.google.com/books?id=4V9Xx-6B2ZIC&q=nel.%20Innovation%20and%20Knowledge%20Creation%20in%20an%20Open%20Economy%3A%20Canadian%20Industry%20and%20International%20Implications&pg=PP1 |publisher=Cambridge University Press |isbn=0-521-81086-8 }}
* {{Cite book
 |first1 = William Thomas| last1=Easterbrook |first2= Hugh G. J |last2=Aitken
 |title= Canadian Economic History
 |publisher= University of Toronto Press
 |isbn = 0-8020-6696-8
 |year=1988
|url=https://books.google.com/books?id=QjmE2bSRzEUC&q=Economic%20History%20of%20Canada&pg=PP1
 }}
* {{citation |last = Hessing |first =Melody |author2=  Michael Howlett, Tracy Summerville|year =2005 |title = Canadian natural resource and environmental policy |url =https://books.google.com/books?id=_qHF160KzwgC&q=Canadian%20Economy&pg=PP1|publisher= UBC Press|isbn= 9780774851459}}
* {{citation |last = Kealey |first =Gregory S |year =1995 |title = Workers and Canadian history |url =https://books.google.com/books?id=RGnUhCZAW9MC&q=The%20History%20of%20Canadian%20Business&pg=PP1 |publisher=McGill-Queen's University Press |isbn= 0-7735-1352-3 }}
* {{citation |last = Levi |first = Michael A|year = 2009|title =The Canadian oil sands : energy security vs. climate change |url = https://books.google.com/books?id=cj2wJGhT-2QC&q=Oil%20sands&pg=PP1|publisher=Council on Foreign Relations, Center for Geoeconomic Studies |isbn=978-0-87609-429-7 }}
* {{citation |last =Lipsey |first =Richard G |author2=  [[Alice Nakamura]], Canada. Industry Canada|year =2006 |title =Services industries and the knowledge-based economy |url =https://books.google.com/books?id=_0-jUlslCOgC&q=Canadian%20Economy&pg=PP1 |publisher=University of Calgary Press |isbn=1-55238-149-8 }}
* {{citation |last = Pomfret |first =Richard |year =1981 |work=revised 2005|title = The Economic Development of Canada |url = https://books.google.com/books?id=tYCexdAOLi0C&q=Canadian%20Economy&pg=PP1|publisher=Routledge |isbn=978-0-415-37976-2 }}
* {{citation |last =Quarter |first =Jack |author2= Laurie Mook, Ann Armstrong |year =2009 |title =Understanding the Social Economy: A Canadian Perspective |url =https://books.google.com/books?id=QGbaI3ilv2sC&q=Canadian%20Economy&pg=PP1 |publisher= University of Toronto Press|isbn= 978-0-8020-9695-1 }}
* {{citation |last = Tavidze |first =Albert |year =2007 |title = Progress in Economics Research, Volume 12|url =https://books.google.com/books?id=hWv3ZvmesVoC&q=Canadian%20Economy&pg=PP1 |publisher= Gardners Books |isbn= 978-1-60021-720-3}}
{{Refend}}

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*[https://www.statcan.gc.ca/eng/start Statistics Canada]
*[https://www.fin.gc.ca/ Department of Finance Canada]
*[http://www.bankofcanada.ca/ Bank of Canada]
*[http://www.oecd.org/canada/ Canada – OECD]
*[https://web.archive.org/web/20260118024030/https://www.cia.gov/the-world-factbook/countries/canada/ Canada profile] at the [[CIA World Factbook]]
*[http://www.worldbank.org/en/country/canada Canada profile] at [[The World Bank]]
*[https://wits.worldbank.org/CountryProfile/en/Country/CAN/Year/LTST/TradeFlow/EXPIMP/Partner/by-country Canada Exports and Imports]

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