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As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US, its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs nearly 80% of Canadian exports each year.
Economy of Canada
Currency Canadian Dollar
Fiscal Year
GDP (PPP) $1.285 trillion (2009 est.)
GDP (per capita) $38,400 (2009 est.)
Exports $298.5 billion (2009 est.)
Imports $305.2 billion (2009 est.)
Main Industries Transportation Equipment, Chemicals, Processed and Unprocessed Minerals, Food Products, Wood and Paper Products, Fish Products, Petroleum and Natural Gas
Exports - Commodities Motor Vehicles and Parts, Industrial Machinery, Aircraft, Telecommunications Equipment; Chemicals, Plastics, Fertilizers; Wood Pulp, Timber, Crude Petroleum, Natural Gas, Electricity, Aluminum
Imports - Commodities Machinery and Equipment, Motor Vehicles and Parts, Crude Oil, Chemicals, Electricity, Durable Consumer Goods
Exports Partners US 77.7%, UK 2.7%, Japan 2.3% (2008)
Imports Partners US 52.4%, China 9.8%, Mexico 4.1% (2008)