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Canada is the world's tenth-largest economy as of 2016, with a nominal GDP of approximately US$1.52 trillion. It is a member of the Organization for Economic Co-operation and Development (OECD) and the Group of Eight (G8), and is one of the world's top ten trading nations, with a highly globalized economy. Canada is ranked above the US and most western European nations on The Heritage Foundation's index of economic freedom, and experiencing a relatively low level of income disparity. The country's average household income per capita is over US$23,900, higher than the OECD average.

 

In 2014, Canada's exports totaled over C$528 billion, while its imported goods were worth over $524 billion, of which approximately $351 billion originated from the United States, $49 billion from the European Union, and $35 billion from China.

 

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. Like many other developed countries, the Canadian economy is dominated by the service industry, which employs about three-quarters of the country's workforce. However, Canada is unusual among developed countries in the importance of its primary sector, in which the forestry and petroleum industries are two of the most prominent components.

 

Main Canadian industries in 2017 were:

 

Real estate and rental and leasing

Manufacturing

Mining, quarrying, and oil and gas extraction

Finance and insurance

Construction

Health care and social assistance

Public administration

Wholesale trade

Retail trade

Professional, scientific and technical services

Educational services

Transportation and warehousing

Information and cultural industries

Administrative and support, waste management and remediation services

Utilities

Accommodation and food services

Other services (except public administration)

Agriculture, forestry, fishing and hunting

Arts, entertainment and recreation

Management of companies and enterprises

13.01%

10.37%

8.21%

7.07%

7.07%

6.63%

6.28%

5.78%

5.60%

5.54%

5.21%

4.60%

3.00%

2.46%

 

2.21%

2.15%

1.89%

1.53%

0.77%

0.62%

©2018 by Lana Immigration Consulting Services Canada

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