canadian economy 2010
DESCRIPTION
An overview of the Canadian economy using the most up-to-date data I could findTRANSCRIPT
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Canadian Economics2011
Jamie Mulholland
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Canada’s Economy
Jamie Mulholland
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Capital: Ottawa
Largest City: Toronto
Official Languages: English and French
Established in July 1, 1867
Total area: 9,984,670 km2, water 891,162 km2
Population: 34,404,000 (2011)
GDP (PPP): $1.330 trillion (2010)
GDP (nominal): $1.556 trillion (2010)
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Canada’s Economic System
Canada has a Mixed economic system– Similar to a Market economy (free enterprise)– some government regulation among
industries
Member of OECD, NAFTA, WTO, G8
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Canada’s Natural Resources
Iron ore, nickel, zinc, copper, gold, lead, molybdenum, diamonds, silver, potash, coal, petroleum, natural gas, hydroelectric power, wildlife, fish, timber
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Early Industries
Fur trade – Beaver and Seal pelts
Atlantic Fisheries (Newfoundland)
Forestry
Gold mining
Canals and railway were used for transportation.
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Klondike Gold Rush
The 1980’s was marked by a frenzied influx of immigration for gold prospecting.
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Logging Industry
Canada has large forests (4,020,000 km2) and produces more wood and paper products than any other country.
90% is publicly owned and 50% of the total forest area is allocated for harvesting.
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Canada’s Land Use
What percentage of the land is arable?– 5% (only in Southern Canada; Northern Canada’s
terrain is permafrost!)
What are the major agricultural products?– Wheat, barley, oilseed, tobacco, fruits, vegetables,
dairy products, forest products, fish, cannabis
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Canada’s Industries
What’s being produced in the factories?– Transportation equipment, chemicals,
processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum, natural gas
Labour Force: 18.59 million (2010)– Services 76%, manufacturing 13%,
construction 6%, agriculture 2%, other 3%
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Canada’s ExportsChief exports:– motor vehicles and parts, industrial
machinery, aircraft, telecommunications equipment, electronics, chemicals, plastics, fertilizers, wood pulp, timber, crude petroleum, natural gas, electricity, aluminum.
Exports total: $406.8 billion (2010)Top exporting partners (2009):
– U.S. 75.02%, UK 3.37%, China 3.09%
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Canada’s ImportsChief imports:– Machinery & equipment, motor vehicles &
parts, crude oil, chemicals, electricity consumer goods
Imports total (2010): $406.4 billion
Top importing partners (2009): – U.S. 51.1%, China 10.88%, México 4.56%
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Canada’s Literacy Rate
What percentage of people over the age of 15 can read and write?– 99% (2009)
How long are students required to stay in school?– 17 years
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Canada’s Unemployment Rate
What percentage of people do not have jobs?– 7.6% (2010)
What percentage of people live in poverty?– Statistics Canada low income cut-off
• 10.8% relative (2005)
– Fraser institute Basic needs poverty measure • 4.9% (2004)
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Canada’s GDP
$1.600 trillion (2010)
GDP Per Capita--$39,599 (2009)
GDP by sector:– services (71.3%)– industry (26.4%)– agriculture (2.3%) -2009
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North American Free Trade Agreement
Signed by the US, Canada, & Mexico in the mid-1990sEliminated trade barriers between the 3 countriesFree Trade between the 3 countriesHow has it affected Canada’s economy?– It eliminated trade barriers with US & Mexico, and
allows them to trade more freely at a better cost
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Canada’s Economic ProblemsUnemployment & poverty
Over depletion of natural resources
Acid rain from factories near Great Lakes region
Improving public services (which forces the country to raise taxes)
Aging population and immigration
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Solutions?
Eco-tourism
A shift from exporting of raw materials (chemicals, minerals, lumber) to value added products (processed chemicals and food products)
Legalization of marijuana – Canada’s largest agricultural product