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Business
access to over 395 million consumers of NAFTA (North
America Free Trade Agreement comprising of United States,
Canada and Mexico). |
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The total
worth of the NAFTA economy is US$9.14 trillion. |
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Canada’s
economy has a growth rate of 3.2 %. |
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Business rate
of interest is 6.44%. |
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Consumer
loans are available at 10.11%. |
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Rate on
deposits is 4.92%. |
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USA is
Canada’s largest trading partner. |
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Total Foreign
Direct Investment in Canada is more than 217 billion
dollars in 1998. |
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The
unemployment rate is 7.5% and is falling. |
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Rate on
deposits is 4.92%. |
As an affluent,
high tech industrial society, Canada today closely resembles the
US
 in
its market oriented economic system, pattern of production, and
high 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. Real Rates of growth have averaged nearly
3.0% since 1993. Unemployment is falling and government budget
surpluses are being primarily devoted to reducing the large
public sector debt. The 1989 US - Canada Free Trade (FTA) and
994 North American Free Trade agreement (NAFTA) (which included
Mexico) have touched off a dramatic increase in trade and
economic integration with the US. With its great natural
resources, skilled labor force, and modern capital plant Canada
can anticipate solid economic prospects in the future. The
continuing constitutional impasse between English and French
speaking areas is raising the possibility of a split in the
federation, making
foreign investors somewhat
edgy. GDP:
purchasing power parity - $688.3 billion (1998 est.)
GDP: real growth rate: 3% (1998 est.)
GDP: per capita: purchasing power parity - $22,400 (1998
est.)
GDP: composition by sector:
Agriculture: 3%
Industry: 31%
Services: 66% (1998) |
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