Canada is the second largest country in the world, after Russia, and covers approximately 10 000 000 squared km. Canada’s population is 35.16 million as of 2013 and their unemployment rate is 7.1% in 2015 which puts them above both the U.S and the U.K.
With mountains in the west, vast open greenland, and many forests and rivers, Canada has huge access to both natural and agricultural resources and because 90% of Canada is inhabitable, they have huge amounts of resource wealth and are a developed country.
Over 53% of Canada is forested, meaning they are rich in wood and by-products of wood and are much more equipped to produce timber resources than other countries. They have the third largest oil reserves in the world with an estimate of …show more content…
EXPORTS - Data from The Observatory of Economic Complexity
The top export destinations of Canada are the United States ($320B), China ($20.6B), Japan ($11.1B), the United Kingdom ($9.7B) and Mexico ($7.68B).
According to The Observatory of Economic Complexity, In 2013 the value of Canada’s exports were $438 Billion and the value of their imports were 437 Billion. A trade balance is the difference between the value of a country imports and their exports. In order to be in a surplus, a country has to export more than they import. Canada’s trade balance for 2013 was 1.69 Billion, meaning they had a surplus.
Canada’s top 5 exports according to The Observatory of Economic
Complexity are Crude Petroleum, Cars, Refined Petroleum, Petroleum Gas and Vehicle Parts. (See graph)
One big problem that Canada’s economy face today is lack of diversity. In the market In Canada’s share market, the TSX, 70% of it is made up of only three sectors- materials, financials and energy. This lack of variety is unreliable and dangerous because if one of these three sectors does badly, it will greatly affect the market and the economy because it makes up such a large portion of
With mountains in the west, vast open greenland, and many forests and rivers, Canada has huge access to both natural and agricultural resources and because 90% of Canada is inhabitable, they have huge amounts of resource wealth and are a developed country.
Over 53% of Canada is forested, meaning they are rich in wood and by-products of wood and are much more equipped to produce timber resources than other countries. They have the third largest oil reserves in the world with an estimate of …show more content…
EXPORTS - Data from The Observatory of Economic Complexity
The top export destinations of Canada are the United States ($320B), China ($20.6B), Japan ($11.1B), the United Kingdom ($9.7B) and Mexico ($7.68B).
According to The Observatory of Economic Complexity, In 2013 the value of Canada’s exports were $438 Billion and the value of their imports were 437 Billion. A trade balance is the difference between the value of a country imports and their exports. In order to be in a surplus, a country has to export more than they import. Canada’s trade balance for 2013 was 1.69 Billion, meaning they had a surplus.
Canada’s top 5 exports according to The Observatory of Economic
Complexity are Crude Petroleum, Cars, Refined Petroleum, Petroleum Gas and Vehicle Parts. (See graph)
One big problem that Canada’s economy face today is lack of diversity. In the market In Canada’s share market, the TSX, 70% of it is made up of only three sectors- materials, financials and energy. This lack of variety is unreliable and dangerous because if one of these three sectors does badly, it will greatly affect the market and the economy because it makes up such a large portion of