Discover Canada

Canada is the world's eleventh-largest economy, with a 2011 nominal GDP of approximately US$1.74 trillion. It is a member of the Organization for Economic Cooperation and Development (OECD) and the G8, and is one of the world's top ten trading nations, with a highly globalized economy. Canada is a mixed economy, ranking above the United States and most European nations on the Heritage Foundation's index of economic freedom. The largest foreign importers of Canadian goods are the United States, the United Kingdom, and Japan.

In the past century, the growth of Canada's manufacturing, mining and service sectors has transformed the nation from a largely rural economy to an advanced, urbanized, industrial one. Like many other developed countries, the Canadian economy is dominated by the service industry, which employs about three-quarters of the country's workforce.

Historically, much of Canada's exports have been derived from its natural resources due to the rich abundance of mineral, forest and water-based resources such as iron-ore, nivkel, zinc, copper, gold, lead, rare earth elements, molybdenum, potash, diamonds, silver, fish, timber, wildlife, coal, petroleum, natural gas and hydropower.

Although fishing and forestry were once major Canadian industries, mineral and energy resources have become the leading source of income for the nation. Canada is the world leader in value of mineral exports with energy resources providing a vast amount of profit as well as the world's 10th largest exporter of oil and 3rd largest exporter of natural gas.

Despite contributing to only 2% of Canada's GDP, Canadian agricultural products are among the most widely sought worldwide. In 2010, the list of key Canadian industries included transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas. Canadian services such as retail, business, education and health are also amongst the strongest in the world and its finance and banking industries among the fastest growing with potential for further growth.