As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its
market-oriented economic system, pattern of production, and affluent living standards. Since World War II,
the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a
largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and
the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in
trade and economic integration with the US. Given its great natural resources, skilled labor force, and modern
capital plant, Canada enjoys solid economic prospects. Top-notch fiscal management has produced consecutive
balanced budgets since 1997, although public debate continues over how to manage the rising cost of the publicly
funded healthcare system. Exports account for roughly a third of GDP. Canada enjoys a substantial trade surplus
with its principal trading partner, the US, which absorbs about 85% of Canadian exports. Canada is the US'
largest foreign supplier of energy, including oil, gas, uranium, and electric power.
| GDP (purchasing power parity): |
$1.178 trillion (2006 est.) |
| GDP (official exchange rate): |
$1.088 trillion (2006 est.) |
| GDP - real growth rate: |
2.7% (2006 est.) |
| GDP - per capita (PPP): |
$35,600 (2006 est.) |
| GDP - composition by sector: |
agriculture: 2.3%
industry: 29.2%
services: 68.5% (2006 est.)
|
| Labor force: |
17.59 million (2006 est.) |
| Labor force - by occupation: |
agriculture 2%, manufacturing 14%, construction 5%, services 75%, other 3% (2004) |
| Unemployment rate: |
6.4% (2006 est.) |
| Population below poverty line: |
15.9%; note - this figure is the Low Income Cut-Off (LICO), a calculation that results in higher figures than
found in many comparable economies; Canada does not have an official poverty line (2003) |
| Household income or consumption by percentage share: |
lowest 10%: 2.8%
highest 10%: 23.8% (1994)
|
| Distribution of family income - Gini index: |
33.1 (1998) |
| Inflation rate (consumer prices): |
2% (2006 est.) |
|---|
| Investment (gross fixed): |
21.3% of GDP (2006 est.) |
|---|
| Budget: |
revenues: $183.5 billion
expenditures: $181.8 billion; including capital expenditures of $NA (2005 est.)
|
|---|
| Public debt: |
65.4% of GDP (2006 est.) |
|---|
| Industries: |
transportation equipment, chemicals, processed and unprocessed minerals, food
products, wood and paper products, fish products, petroleum and natural gas
|
|---|
| Industrial production growth rate: |
0.7% (2006 est.) |
|---|
| Oil - production: |
3.135 million bbl/day (2004) |
|---|
| Oil - consumption: |
2.294 million bbl/day (2004) |
|---|
| Oil - exports: |
1.6 million bbl/day (2004) |
|---|
| Oil - imports: |
963,000 bbl/day (2004) |
|---|
| Oil - proved reserves: |
178.9 billion bbl
note: includes oil sands (2004 est.)
|
|---|
| Natural gas - production: |
183.6 billion cu m (2004 est.) |
|---|
| Natural gas - consumption: |
95.85 billion cu m (2004 est.) |
|---|
| Natural gas - exports: |
104 billion cu m (2004 est.) |
|---|
| Natural gas - imports: |
10.86 billion cu m (2004 est.) |
|---|
| Natural gas - proved reserves: |
1.603 trillion cu m (1 January 2005 est.) |
|---|
| Current account balance: |
$20.56 billion (2006 est.) |
|---|
| Exports: |
$405 billion f.o.b. (2006 est.) |
|---|
| Exports - commodities: |
motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum |
|---|
| Exports - partners: |
US 84.2%, Japan 2.1%, UK 1.8% (2005) |
|---|
| Imports: |
$353.2 billion f.o.b. (2006 est.) |
|---|
| Imports - commodities: |
machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods |
|---|
| Imports - partners: |
US 56.7%, China 7.8%, Mexico 3.8% (2005) |
|---|
| Reserves of foreign exchange and gold: |
$35.79 billion (August 2006 est.) |
|---|
| Debt - external: |
$684.7 billion (30 June 2006) |
|---|
| Exchange rates: |
Canadian dollars per US dollar - 1.1334 (2006), 1.2118 (2005), 1.301 (2004), 1.4011 (2003), 1.5693 (2002) |
|---|
Canada's constitution governs the legal framework of the country and consists of written text and unwritten
traditions and conventions. The basic framework of the Canadian constitution is contained in the British North
America Act 1867, renamed the Constitution Act 1867 in 1982. It states that Canada has a constitution "similar
in principle to that of the United Kingdom" and divides the powers between the federal and provincial
governments. The Constitution includes the Canadian Charter of Rights and Freedom, which guarantees basic
rights and freedoms for Canadians that, generally, cannot be overridden by legislation of any level of
government in Canada. It contains, however, a "notwithstanding clause", which allows the federal parliament
and the provincial legislatures the power to override some other sections of the Charter temporarily, for a
period of five years.
The position of Prime Minister, Canada's head of government belongs to the current leader of the political
party that can obtain the confidence of a plurality in the House of Commons. The Prime Minister and their
Cabinet are formally appointed by the Governor General (who is the Monarch's representative in Canada).
However, the Prime Minister chooses the Cabinet, and by convention, the Governor General respects the Prime
Minister's choices. The Cabinet is traditionally drawn from members of the Prime Minister's party in both
legislative houses, and mostly from the House of Commons. Executive power is exercised by the Prime Minister and
Cabinet, all of whom are sworn into the Queen's Privy Council for Canada, and become Ministers of the Crown. The
Prime Minister exercises vast political power, especially in the appointment of other officials within the
government and civil service. Michaëlle Jean has served as Governor General since September 27, 2005, and
Stephen Harper, leader of the Conservative Party, has been Prime Minister since February, 2006.
The federal parliament is made up of the Queen and two houses: an elected House of Commons and an appointed
Senate. Each member in the House of Commons is elected by simple plurality in a "riding" or electoral district;
general elections are called by the Governor General when the Prime Minister so advises. While there is no
minimum term for a Parliament, a new election must be called within five years of the last general election.
Members of the Senate, whose seats are apportioned on a regional basis, are chosen by the Prime Minister and
formally appointed by the Governor General, and serve until age 75.
Canada's four major political parties are the Conservative Party of Canada, the Liberal Party of Canada,
the New Democratic Party (NDP), and the Bloc Québécois. The current government is formed by the Conservative
Party of Canada. While the Green Party of Canada and other smaller parties do not have current representation in
Parliament, the list of historical parties with elected representation is substantial.
Recent Elections
Head of state: Queen Elizabeth II, represented by Governor-General Michaelle Jean
Prime minister: Stephen Harper
Stephen Harper
Twelve years of Liberal government ended when incumbent prime minister Paul Martin was defeated by
Stephen Harper's opposition Conservatives in elections on 23 January 2006.
Mr Harper failed to win an overall majority and has to work with opposition parties in order to govern.
The Conservatives promised to cut taxes, fight crime, boost military spending and to repair relations with
the US. Mr Harper denied harbouring a radical right-wing agenda, a charge levelled by some opponents.
Observers say he has steered the Conservatives towards the political centre, switching the party's focus
from social to economic matters.
The January 2006 poll was precipitated by a vote of no confidence which brought down Paul Martin's scandal-hit Liberal government in the previous November.
Mr Martin had tried in vain to distance himself from allegations of corruption in the French-speaking province of Quebec in the late 1990s when he was federal finance minister.
He was cleared by a judicial inquiry, but the fallout from the scandal cost the Liberals a fourth consecutive
majority government in 2004.
Born in Toronto, Ontario in 1959, Stephen Harper studied economics at the University of Calgary in Alberta.
He became an MP in 1993 and headed the newly-merged Conservative party in 2004.
He is married and has two children. Aside from politics and intellectual pursuits, he is passionate about ice hockey.
- Foreign minister: Peter MacKay
- Finance minister: James Flaherty
- Defence minister: Gordon O'Connor
Political Parties
Bloc Quebecois - Gilles DUCEPPE;
Conservative Party of Canada - Stephen HARPER; (a merger of the Canadian Alliance and the Progressive Conservative Party)
Green Party - Elizabeth MAY;
Liberal Party - Stephan DION;
New Democratic Party - Jack LAYTON
The Canadian legal system has its foundation in the British common law system, inherited from being a
part of the Commonwealth. Quebec, however, still retains a civil system for issues of private law. Both
legal systems are subject to the Constitution of Canada, from which all laws formally derive their power.
Most properties are sold as freehold.
Acquisition of Real Estate by Foreigners
Foreigners can freely acquire property in Canada
Taxation System
Capital Gains Tax, GST (VAT), Land Transfer Tax, Rental Income Tax rates, all differ between the Provinces.
Canada's taxation system is similar to that of many countries. The tax system exists to collect money from
individuals and companies to help pay for government programs and services.
The UK and Canada enjoy a dual taxation treaty, which means you only pay tax in the country you own the property.
CONVERTOR
Population: 33,390,141 (2006)
Life expectancy at birth:
Total population: 80.34 years
male: 76.98 years
female: 83.86 years (2006)
Ethnic groups:
British Isles Origin 28%
French Origin 23%
Other European 15%
Amerindian 2%
Others, mostly Asian, African, Arab 6%
Mixed background 26%
Religions:
Roman Catholic 42.6%
Protestant 23.3% (including United Church 9.5%, Anglican 6.8% Baptists 2.4%, Lutheran 2%)
Other Christian 4.4%
Muslims 1.9%
Other unspecified 11.8%
None 16%
Languages:
English 59.3%
French 23.2%
Others 17.5%
Population dispersion:
Nearly 90% of Canadians live within 200 km of the border with the United States, which means that Canada contains vast expanses of wilderness to the north.