Canada Economy

The country of Canada is home to the eleventh largest economy in the world when measured in USD. It is among the world's wealthiest nations and participates in G8 and OCED exercises. While highly dependent on a service economy like most developed nations, Canada also has strong logging and oil industries, which are counted as two of the country's strongest. Another peculiarity of Canada's economy is that it still has a strong automobile and aircraft manufacturing sector in its central region. International trade also makes up a large portion of the Canadian economy, thanks to its rich supply of natural resources.

58% percent of Canada's total exports come from the agricultural, forest, energy and mining industries, and total exports accounted for 30% of GDP in the year 2009. Canada does most of its trading with the U.S. thanks to a permeable southern border and NAFTA, which increased trade by over 40% when it was implemented in 1992.

One of few developed nations that is a net exporter of energy, Canada exports roughly 2.9% of its GDP in oil and gas related industry. It holds the world's third largest oil reserves, trailing behind Saudi Arabia and Venezuela.

Despite Canada's seemingly high public/private property ratio of 40:60, it has one of the highest levels of economic freedom in the world, resembling the U.S. in a market-oriented economic system.