Canadian economy 2010


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An overview of the Canadian economy using the most up-to-date data I could find

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Canadian economy 2010

  1. 1. Canadian Economics 2011 Jamie Mulholland
  2. 2. Canada’s Economy Jamie Mulholland
  3. 4. <ul><li>Capital: Ottawa </li></ul><ul><li>Largest City: Toronto </li></ul><ul><li>Official Languages: English and French </li></ul><ul><li>Established in July 1, 1867 </li></ul><ul><li>Total area: 9,984,670 km 2 , water 891,162 km 2 </li></ul><ul><li>Population: 34,404,000 (2011) </li></ul><ul><li>GDP (PPP): $1.330 trillion (2010) </li></ul><ul><li>GDP (nominal): $1.556 trillion (2010) </li></ul>
  4. 5. Canada’s Economic System <ul><li>Canada has a Mixed economic system </li></ul><ul><ul><li>Similar to a Market economy (free enterprise) </li></ul></ul><ul><ul><li>some government regulation among industries </li></ul></ul><ul><li>Member of OECD, NAFTA, WTO, G8 </li></ul>
  5. 6. Canada’s Natural Resources <ul><ul><li>Iron ore, nickel, zinc, copper, gold, lead, molybdenum, diamonds, silver, potash, coal, petroleum, natural gas, hydroelectric power, wildlife, fish, timber </li></ul></ul>
  6. 7. Early Industries <ul><li>Fur trade – Beaver and Seal pelts </li></ul><ul><li>Atlantic Fisheries (Newfoundland) </li></ul><ul><li>Forestry </li></ul><ul><li>Gold mining </li></ul><ul><li>Canals and railway were used for transportation. </li></ul>
  7. 8. Klondike Gold Rush <ul><li>The 1980’s was marked by a frenzied influx of immigration for gold prospecting. </li></ul>
  8. 9. Logging Industry <ul><li>Canada has large forests ( 4,020,000 km 2) and produces more wood and paper products than any other country. </li></ul><ul><li>90% is publicly owned and 50% of the total forest area is allocated for harvesting. </li></ul>
  9. 10. Canada’s Land Use <ul><li>What percentage of the land is arable? </li></ul><ul><ul><li>5% (only in Southern Canada; Northern Canada’s terrain is permafrost!) </li></ul></ul><ul><li>What are the major agricultural products? </li></ul><ul><ul><li>Wheat, barley, oilseed, tobacco, fruits, vegetables, dairy products, forest products, fish, cannabis </li></ul></ul>
  10. 11. Canada’s Industries <ul><li>What’s being produced in the factories? </li></ul><ul><ul><li>Transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum, natural gas </li></ul></ul><ul><li>Labour Force : 18.59 million (2010) </li></ul><ul><ul><li>Services 76%, manufacturing 13%, construction 6%, agriculture 2%, other 3% </li></ul></ul>
  11. 12. Canada’s Exports <ul><li>Chief exports: </li></ul><ul><ul><li>motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment, electronics, chemicals, plastics, fertilizers, wood pulp, timber, crude petroleum, natural gas, electricity, aluminum . </li></ul></ul><ul><li>Exports total: $406.8 billion (2010) </li></ul><ul><ul><li>Top exporting partners (2009) : </li></ul></ul><ul><ul><li>U.S. 75.02%, UK 3.37%, China 3.09% </li></ul></ul>
  12. 13. Canada’s Imports <ul><li>Chief imports: </li></ul><ul><ul><li>Machinery & equipment, motor vehicles & parts, crude oil, chemicals, electricity consumer goods </li></ul></ul><ul><li>Imports total (2010): $ 406.4 billion </li></ul><ul><li>Top importing partners (2009): </li></ul><ul><ul><li>U.S. 51.1%, China 10.88%, México 4.56% </li></ul></ul>
  13. 14. Canada’s Literacy Rate <ul><li>What percentage of people over the age of 15 can read and write? </li></ul><ul><ul><li>99% (2009) </li></ul></ul><ul><li>How long are students required to stay in school? </li></ul><ul><ul><li>17 years </li></ul></ul>
  14. 15. Canada’s Unemployment Rate <ul><li>What percentage of people do not have jobs? </li></ul><ul><ul><li>7.6% (2010) </li></ul></ul><ul><li>What percentage of people live in poverty? </li></ul><ul><ul><li>Statistics Canada low income cut-off </li></ul></ul><ul><ul><ul><li>10.8% relative (2005) </li></ul></ul></ul><ul><ul><li>Fraser institute Basic needs poverty measure </li></ul></ul><ul><ul><ul><li>4.9% (2004) </li></ul></ul></ul>
  15. 16. Canada’s GDP <ul><li>$1.600 trillion (2010) </li></ul><ul><li>GDP Per Capita--$39,599 (2009) </li></ul><ul><li>GDP by sector: </li></ul><ul><ul><li>services (71.3%) </li></ul></ul><ul><ul><li>industry (26.4%) </li></ul></ul><ul><ul><li>agriculture (2.3%) -2009 </li></ul></ul>
  16. 17. North American Free Trade Agreement <ul><li>Signed by the US, Canada, & Mexico in the mid-1990s </li></ul><ul><li>Eliminated trade barriers between the 3 countries </li></ul><ul><li>Free Trade between the 3 countries </li></ul><ul><li>How has it affected Canada’s economy? </li></ul><ul><ul><li>It eliminated trade barriers with US & Mexico, and allows them to trade more freely at a better cost </li></ul></ul>
  17. 18. Canada’s Economic Problems <ul><li>Unemployment & poverty </li></ul><ul><li>Over depletion of natural resources </li></ul><ul><li>Acid rain from factories near Great Lakes region </li></ul><ul><li>Improving public services (which forces the country to raise taxes) </li></ul><ul><li>Aging population and immigration </li></ul>
  18. 19. Solutions? <ul><li>Eco-tourism </li></ul><ul><li>A shift from exporting of raw materials (chemicals, minerals, lumber) to value added products (processed chemicals and food products) </li></ul><ul><li>Legalization of marijuana </li></ul><ul><ul><li>Canada’s largest agricultural product </li></ul></ul>