In the list of countries, enjoying economic freedom comes the name of Canada as well. Canadian economy is much alike the economy of United States in its market-based approach. Canada is among those few countries of the world where the inflation rate has never been recorded above 1.4% annually. However, the ongoing global recession has not spared the economy of Canada as well. Even then, the Canadian government makes sure that not even a single Canadian citizen is forced to live below poverty line in Canada by taking appropriate measures.

Canadian economy consists of all three major sectors; agriculture, industry and services sectors. If you ask about the estimates, the agriculture sector of Canada makes up about 2.1%, industry sector around 28.8% and the service sector makes up about 69.1% of the total economy of Canada. Furthermore, not only it is a respected member of G8 but it is also the only member having the least amount of government debts. Moreover, the unemployment rate of Canada, according to recently published statistics, is merely 8.1% which if you consider in the perspective of United States, is even lower than this.

Canadian economy is rapidly growing due to its energetic, dedicated, devoted and motivated skilled labor force. If we roughly estimate then around 2% of labor force is employed in agriculture sector, around 13% in manufacturing sector, around 6% in construction sector, around 76% in services sector and around 3% in all other sectors. In addition to it, a large number of world’s renowned companies and businesses are being run in Canada. Plus you need not be surprised if we say that Canada stands at 8th place among the list of the most fertile land for business purposes. The reason for this is predominantly the financial security, the peace loving nation and the unique infrastructure of Canada.

Canadian economy consists of many small and large industries; the main industries of Canada include food products, chemicals, petroleum, fish products, transportation equipment, processed and unprocessed minerals, paper products, wood products, and natural gas. Canadian economy constitutes a large number of foreign investors as well as its products are traded worldwide owing to the international trade partners. Canadian economy heavily depends upon the exports and imports; the main export partners of Canada are United States, United Kingdom and China, with United States being the leading partner. Canada’s exports to United States are around 78.9%, to United Kingdom are 2.8% and to China are 2.1%; total exports make up to 30% of Canadian GDP (Gross Domestic Product).

Some of the major exports of Canada are machinery, vehicles and their parts, chemicals, plastics, fertilizers, timber, crude petroleum, natural gas and even electricity. Of total Canada’s exports nearly 58% of exports are of agriculture, forestry, energy and mining and another 38% exports are of machinery, automotive products, equipments and various other manufacturing products. As mentioned earlier, Canada is proud to be the biggest exporter to one of the most advanced countries and the super power; US, as around 63% of total Canadian imports are exported to the US.