Canada’s Economy
Canada’s oil industry has always been the main driving force for economic growth, driving Canada’s trade from losses to profits and resulting in a large amount of investment. As in many advanced economies, domestic demand for refined petroleum products is stable, but crude oil producers can still expand the domestic market through refineries in eastern Canada. Canada is a net exporter of crude oil, but refineries in its eastern provinces have historically relied on imported oil because it costs more to transport Western Canadian crude across the country. Although the United States has increased its shale oil production, exports to the United States have still grown due to Canada's proximity to the United States and its vast pipeline network. In 2014, crude oil accounted for approximately 18% of Canada's cargo exports.
The Canadian federal and provincial governments operate a variety of international insurance businesses, which have become a highlight of the economy, including export credit insurance and investment insurance. As early as 1945, the Export Credit Insurance Act was formulated and promulgated; the Export Credit Insurance Company was established in 1947. Insurance supervision adopts a two-level supervision model, namely the federal and provincial levels, to protect the investment capital of Canada's overseas investors. , investment income, making up for the loss of export receipts and capital and income caused by various commercial and political risks, effectively promoting the development of Canada's international trade and the competitive position of domestic insurance companies in the international market. Insurance industry assets rank second in Canada's financial industry. There are currently nearly 400 non-life insurance companies in Canada.
The agri-food industry is an important part of Canada's economy, accounting for 8% of its GDP. Canada has 46 million hectares of arable land, mainly in the west, accounting for 5% of the total land area. The main products are: wheat, oats, soybeans, rapeseed, barley, red meat (cattle, pigs and sheep), fruits, vegetables, wine Products, tobacco, beverages, etc., account for about 60% of the total export volume to the United States. Ontario and Quebec mainly produce red meat and dairy products.
According to data from the International Monetary Fund, the main economic indicators in 2011 are as follows:
Gross domestic product (GDP): US$1,736.869 billion (ranked 10th in the world)
< p>Per capita GDP: US$50,435.50 (ranked 9th in the world)GDP growth rate: 2.46%
Unemployment rate: 7.65%
Human Development Index 1.888 (high; 2011; 8th among countries and regions in the world, behind Norway, Australia and other countries). The total output value of agriculture, forestry and fishery in 2011 was 29.056 billion Canadian dollars, accounting for 2.29% of the GDP. It mainly grows wheat, barley, flax, oats, rapeseed, corn, feed grass and other crops. The arable land area accounts for approximately 16% of the national land area, of which the cultivated land area is approximately 67.5867 million hectares, accounting for 8% of the national land area. In 2011, the agricultural population was 306,000, accounting for 1.64% of the national employed population. Canada has a developed fishery industry, with 75% of its fishery products exported, making it the world's largest exporter of fishery products.
Main animal product output value (unit: billion Canadian dollars) 2006 2007 2008 2009 2010 2011 Beef 64.90 62.92 63.51 65.31 61.57 64.88 Pork 34.01 33.28 32.80 31.87 33.46 38.66 Poultry meat 18.24 20.69 20.68 23.81 22.90 26.13 Dairy products 48.30 51.96 52.07 53.06 54.95 58.15 Manufacturing and high-tech industries are developed. Manufacturing, construction, and mining constitute the three pillars of the national industrial economy. Canada is a world leader in aerospace, non-ferrous metallurgy, information and communications, power equipment, electric power and water conservancy, pulp and paper, microelectronics software, new energy and new materials. In addition, petrochemicals, forest building materials, fashion and textiles, food and beverages, ferrous metals, etc. are also important industrial sectors. Representatives of the Canadian Industry Group include Bombardier Inc. (Bombardier Inc., mainly manufacturing advanced transportation such as jet aircraft and high-speed trains), Alcan Packaging (Alcan Packaging, the world's second largest aluminum metal producer), ATI (ATI Technologies) , display chip giant), Petro-Canada (Petro-Canada, the second largest fuel and gas company in North America), Dynamic Research (RIM, Blackberry mobile phone, communications giant), KANDU (nuclear reactor, comprehensive development of nuclear energy), Kanadarm (aerospace and space Arm), Nortel Networks (network equipment giant), etc.
In 2011, the total output value of Canada's manufacturing industry was 162.197 billion Canadian dollars, accounting for 12.8% of the GDP. There were 1.76 million employees, accounting for 9.41% of the national employed population. The total output value of the construction industry is 76.506 billion Canadian dollars, accounting for 6.04% of the GDP, and there are 1.262 million employees, accounting for 6.75% of the national employed population.