Executive Summary for Canada
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Executive Summary for Canada
Canada is situated above the U.S.A. It is an affluent, high-tech industrial society much like the United States. Canada’s market-oriented economics system, pattern production, and high living standards are almost identical to that of the United States. There has been a huge growth since World War 2 in manufacturing, mining, and service sectors that has transformed the country from a large rural economy, into a primarily industrial and urban economy. The real rates of growth for Canada have been 3% since 1993. The unemployment rate is falling and government budget surpluses have been used to reduce large public sector debt. NAFTA, and the FTA have sparked a dramatic increase in trade and economic integration with the U.S. Canada has an abundance of natural resources, as well as a skilled labor force. This makes Canada enjoy solid economic prospects. Only two shadows loom on Canada: The continuing problems with English and French speaking areas, which may mean a possible split. The other concern is the consistent flow south of professional persons lured by higher pay, lower taxes, and immense high-tech infrastructure. The GDP is $774.7 billion (est. 2000). The GDP per capita is $24,800. The composition of the countries resources are, 3% agriculture, 31% industry, and 66% services.
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