Economy of Canada
Canada is quite
spectacular among developed countries in that the country relies
heavily on its primary sector, with the logging and oil industries
being two of Canada's most important. Canada also has a sizable
manufacturing sector, centered in Central Canada, with the automobile
industry especially important.
As the second largest
country in the world, Canada has considerable natural resources spread
across its varied regions. In British Columbia, the forestry industry
is of great importance, while the oil industry is important in Alberta
and Newfoundland and Labrador. Northern Ontario is home to a wide
array of mines, while the fishing industry has long been central to
the character of the Atlantic provinces, though it has recently been
in steep decline.
makes up a large part of the Canadian economy, particularly of its
natural resources. The United States is by far its largest trading
partner, accounting for about 76% of exports and 65% of imports as of
2007. Canada's combined exports and imports ranked 8th among all
nations in 2006.
Canada ranks among the
most developed countries on the Human development index, with a GDP
per capita lower than and a median household income roughly equal to
that of the United States.
22 May 2008