Economy Of Canada

Canada, a land of vast distances and rich naturalof Canadians. But Canada differs from many of them
resources, is the second largest country in the world.being a net exporter of energy with its vast deposits
The fresh water makes up over 10 percent of theof natural gas and large oil resources, the second
total area of Canada, and the coastline is the largest inlargest of the world. Besides, hydroelectric power
the world (273,792 km).presents for Canada a cheap source of additional
Nearly all of it's (about 90 percent) of 30 million peopleabundant energy.
is concentrated within 160 km near the United StatesAlong with it, due to its Prairies, Canada is world's most
Canada border.important suppliers of agricultural products, among
In 1867 it became a self-governing dominion withthem wheat and other grains. Canada is also world's
parliamentary democracy retaining ties to Britishlargest producer of many important natural resources
Crown. Also Canada economically and technologicallysuch as zinc, uranium, gold, nickel, aluminum and lead.
developed in parallel with the United States, it differsCanada has as well a significant manufacturing sector
from its southern neighbor in many respects, such aswith automobile industry especially important.
its economy; social, political, legal and health carePartly due to its large primary sector Canada maintains
systems.a great level of international trade, especially with the
Among its specific problems is the relationship withUnited States. The trade and economic integration of
Quebec, French-speaking province of unique culture.Canada with the United States have strongly
Another problem is the flow south to the United Statesincreased after approving of the 1989 U.S. - Canada
of professionals caused by higher pay, lower takes,Free Trade Agreement (FTA) and 1994 North
and the rich high-tech infrastructure.America Free Trade Agreement (NAFTA).
Though differing in some respects, economicallySince then Canada enjoys stable economic
Canada closely resembles the United States with itsdevelopment, with real rates of grows nearly 3
dynamic, high-tech industrial society, market-orientedpercent, falling unemployment, and government budget
economic system, pattern of production and high livingsurpluses are being partially devoted to reducing the
standards. Being one of the world's wealthiestlarge public sector debt. This is mainly due to the
countries, Canada is a member of Group of Eight (G8)education and health sections, which are among
and the Organization for Economic Co-operation andCanada's largest, being largely under the government
Development (OECD). As for other most developedcontrol. The rapid growth of health care has led to
states the service sector of Canada is the dominatingproblems for governments to finance it.
sector of its economy employing about three quarters