Canada

The Canadian economy is greatly influenced by the proximity of the United States, in particular various trade agreements such as the Automobile treaty, the Canada-United States Free Trade Agreement and the North American Free Trade Agreement of 1994.

Canada's gross domestic product at current prices in 2022 was $2.14 trillion. Breakdown by industry: agriculture, forestry, fishing and hunting — 2.0%; mining, including oil and gas — 7.7%; utilities — 2.1 %; construction — 7.3%; industrial production — 9.4%; wholesale trade — 5.0 %; retail trade — 5.1 %; transport and warehouse services — 4.2 %; information services and culture — 3.6 %; financial and insurance services — 7.4 %; real estate transactions — 13.0 %; professional, scientific and technical services — 6.6 %; administrative services — 2.4%; education — 5.4%; health and social security — 7.4%; arts, entertainment and recreation — 0.7%; hotel and restaurant business — 2.0%; public administration — 7.0%.

Agriculture in Canada

Government subsidies play a significant role in agriculture in Canada. The agricultural sector employs less than 4% of the workforce.

During the XX and the beginning of the XXI century, farms were enlarged, the average Canadian farm is twice as large as in the USA, four times as large as in the UK. As of 2020, there were 190 thousand farms in the country, their average annual turnover was 458.5 thousand Canadian dollars, and the area was 327.6 hectares. Farms with a turnover of more than $ 2 million account for more than half of the country's agricultural turnover, and large farms significantly outperform small ones in terms of profitability. The most important are farms for the cultivation of cereals and oilseeds (39% of the industry's turnover), followed by beef cattle (16%), dairy cattle (10%), poultry (7%), pig farming (7%), greenhouses (7%), cultivation of vegetable and melon crops (4 %), growing fruits and nuts (2%).

Winemaking in Canada is developed in the south of the provinces of Ontario and British Columbia, the main feature is the production of wine from grapes frozen on the vine. Maple syrup production is mainly concentrated in Quebec.

Alberta produces and exports beef. British Columbia is the country's largest producer of broiler meat and eggs. Quebec is Canada's largest producer of milk and dairy products. Dairy cattle breeding is also developed in the province of Ontario.

Fishing is the oldest economic activity in Canada. The most important fishing region is the eastern (Atlantic) coast, where there are many shallow areas rich in fish (bsnks). The Grand Banks of Newfoundland is one of the most important fishing sites in the world. Haddock, sea bass, flounder, turbot, silver saithe, halibut, herring, mackerel, tuna, crayfish, lobsters and shrimp are of the greatest commercial importance.

In British Columbia, the most important species is salmon, which spawns in the province's mountain rivers, as well as herring in the Pacific Ocean.

Canada's Timber Industry

About 40% of Canada's territory is covered by taiga, which allows it to be the largest exporter of wood and one of the world's largest paper producers. These products are intended for both the domestic market and the United States, which is the main buyer. British Columbia is at the head of this industry, followed by Quebec and Ontario.

Industry in Canada

Canada's two most important mineral resources are oil and natural gas. Currently, oil is Canada's most important natural resource. Canada ranks fourth in the world in oil reserves (170 billion barrels estimated for 2021), also fourth in production (4,543 million barrels per day in 2022) and fourth in oil exports (3,177 million barrels per day in 2018). Almost all of the export flow is directed to the United States, and Canada is the main American exporter of oil.

The main part of oil reserves (95%) is concentrated in bituminous sands in the province of Alberta, the largest field is Athabasca. There are also deposits on the Atlantic shelf in the province of Newfoundland and Labrador, in the Arctic and on the Pacific shelf.

Canada ranks 6th in the world in terms of natural gas production. The province of Alberta is also the leader in natural gas reserves and production.

The country extracts about 60 minerals in 200 mines and 6,500 quarries. In terms of value, gold (25% of the industry's turnover), coal (14%), iron ore concentrates (12%), potash salts (9%), copper (8%), nickel (5%), sand and gravel (4%), platinum group metals (3%), diamonds (3%), building stone (2%).

Canada ranks first in the world in the production of potash salts, is among the top five in diamonds and other precious stones, gold, India, niobium, platinum group metals, titanium concentrates and uranium. Canada ranks 4th in the world in primary aluminum production. There are significant reserves of rare earth elements, graphite and lithium.

Canada has the world's largest freshwater reserves. Canada's freshwater exports to the United States are the subject of recurring discussions.

Automobiles, trucks, auto and airline components are the main products manufactured in Canada, followed by the food industry.

Ontario and Quebec produce more than 75% of all industrial products manufactured in Canada, and Toronto and Montreal are the country's main manufacturing centers.

Canada's construction industry employs about 1.4 million workers and has a turnover of about $140 billion. The construction of residential and commercial properties is concentrated primarily in the main cities of the country, such as Toronto, Calgary, Edmonton, Montreal.

Energy industry of Canada

Canada is one of the world's largest consumers of energy per capita, primarily because of its industrialized economy and its harsh winter climate. Canada has large sources of renewable energy, such as numerous large rivers and lakes, strong constant winds in the central and eastern regions, and the highest tides in the Bay of Fundy in Nova Scotia. As of 2020, the installed capacity of Canadian power plants was 153.3 million kW, of which 60.8% were hydroelectric power plants, 16.5% were thermal power plants powered by natural gas and other fossil fuels, 14.7% were nuclear power plants (19 reactors), 5.7% were wind farms, 1.6% were thermal power plants those working on biomass, 0.7% — on solar power plants.