Canada

Capital: Ottawa

Local time:
It is %T:%M %A in Quebec, Montreal, Toronto, Ottawa
It is %T:%M %A in Edmonton, Calgary
It is %T:%M %A in Whitehorse, Vancouver

Exchange rate on :

GDP growth rate: 3.0% in 2012

FDI stock: 520 737 million USD in 2007

Country risk: See the country risk analysis from Canada provided by Ducroire.

Economic trends

Canadian GDP growth was stable during this decade, but the country was hit head-on by the international crisis. Consequently, growth was weak in 2008 and Canada went into recession in 2009. Even so, recovery of business was noted in the last two quarters of 2009, which should extend into 2010 and enable Canada to get its growth back.
With regard to the rate of inflation, it was near 0% in 2009 and should be near 2% in the second quarter of 2011. The unemployment level has increase considerably since the beginning of the crisis in 2008, and should continue to raise until 2011. It is currently at almost 9%.

Main branches of industry

The agricultural sector accounts for a little more than 2% of the GDP and employs less than 2% of the population. Canada is one of the largest exporters of agricultural products in the world, wheat in particular. It produces 10% of the world's GMO harvests. Fishing is an important sector. Canada is one of the main producers of minerals, namely nickel, zinc and uranium. The country also has large reserves of oil and natural gas. Canada has 6 strong sectors of primary industry: renewable energies (mainly wind), forestry sector, hydrogen and fuel cells,  mines, metals and minerals, fishing, oil and gas.
The manufacturing sector represents approximately a third of the GDP and the tertiary sector represents about a two-third. The most dynamic sectors are: telecommunications, tourism, Internet (almost 65% of households use Internet regularly) and aeronautics.

International trade

In 2008, Canada was ranked 11th in the world for exports and imports. Exports represent around one third of the GDP. The United States takes about 80% of Canadian exports. Canada is the United States' biggest foreign energy supplier, including supplying oil, gas, uranium and electric power. Its other main trading partners are the European Union and Japan.
Until July 2008, when it reached a record level, Canadian foreign trade was doing very well, with an increase of exports and imports and a surplus trade balance. Subsequently the crisis considerably affected international transactions and the general trend has since been downwards. Since the beginning of 2009, Canada is even showing a trade deficit with exports having decreased by 8%.

Learn more

For more information on Canada

The Country Profiles of the Foreign and Commonwealth Office

Countries information of the UK Trade and Investment Website

For more international news

Business News of the British Chamber

For more advices

The business advices of the Foreign and Commonwealth Office

Are You Ready to Export? - The online test of the UK Trade and Investment Website