Economy

Economy—overview: As an affluent, high-tech industrial society, Canada today
closely resembles the US in its market-oriented economic system, pattern of
production, and high 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. Canada
started the 1990s in recession, and real rates of growth have averaged only 1.1%
so far this decade. Because of slower growth, Canada still faces high
unemployment—especially in Quebec and the Maritime Provinces—and a large public sector debt. With its great natural resources, skilled labor force, and modern capital plant, however, Canada will enjoy better economic prospects in the future. The continuing constitutional impasse between English- and
French-speaking areas is raising the possibility of a split in the federation,
making foreign investors somewhat edgy.

GDP—purchasing power parity—$658 billion (1997 est.)

GDP—real growth rate: 3.5% (1997 est.)

GDP—per capita: purchasing power parity—$21,700 (1997 est.)

GDP—composition by sector:

agriculture	3%
industry	31%
services	66%