English, French, Chinese languages 4.2, Spanish 3.2, Punjabi 2.6, Arabic 2.4, Tagalog 2.3, Italian 1.5
Economic Overview
Key economic indicators for Canada
GDP:
$2.242 trillion
GDP per Capita:
$55,900
GDP Growth:
1.25%
Inflation:
3.88%
Unemployment:
5.37%
Public Debt:
62.23% of GDP
Credit Rating:
AAA (2002)
Political System
Governance structure of Canada
Government Type:
federal parliamentary democracy (Parliament of Canada) under a constitutional monarchy; a Commonwealth realm; federal and state authorities and responsibilities regulated in constitution
Head of State:
King CHARLES III (since 8 September 2022); represented by Governor General Mary SIMON (since 26 July 2021)
Head of Government:
Prime Minister Justin Pierre James TRUDEAU (since 4 November 2015)
Judiciary:
Supreme Court of Canada (consists of the chief justice and 8 judges); note - in 1949, Canada abolished all appeals beyond its Supreme Court, which prior to that time, were heard by the Judicial Committee of the Privy Council (in London)
Administrative Divisions:
10 provinces and 3 territories*; Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories*, Nova Scotia, Nunavut*, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon*
Major Political Parties
Not specified
International Relations
Global position and alliances
UN Member:
Yes
EU Member:
No
Diplomatic Presence:
501 Pennsylvania Avenue NW, Washington, DC 20001
Major Alliances and Organizations
NATOOASOECD
Economic Sectors & Trade
Detailed economic breakdown
Major Economic Sectors
Agriculture
1.8% (2020 est.)
Industry
22.5% (2020 est.)
Services
69.6% (2020 est.)note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Trade Volume
Exports:
$714.904 billion
Imports:
$724.713 billion
Major Trading Partners
USA 71
China 5
UK 3
Japan 2
Mexico 2
Economic Outlook
Canada has a 1.25% GDP growth rate with 3.88% inflation. The economy is characterized by a strong agriculture sector.