Question

Write a brief overview of the Canadian Economy focusing on the relative weighting by industry, as percentage value of GDP?

Answer 1

The seventh largest economy in the world is Canada.The government plays a big role in health care system, transportation and utility companies. but most of the businesses are privately owned.Although Canadian economy is smaller in size than the American economy,the economy of Canada is very developed as well as diverse.After world war II the Caanadian economy shifted from the agriculural economy to industry and mining.There is foreign trade in the economy and the biggest trading partner is America and foreign trade accounts for 45% of the nation's GDP. Free trade agreement between the nations have increased trade as tariff has been removed.Canadian workers are paid high wages and the GDP per capita is high. Canadians have high disposable income like the Americans. and this has led to increase in demand.   Infrastructure is excellent in the economy.Canada has large energy resources and mineral resources as well.The Canadian economy had the following relative weighting by industry , as percentage value of GDP in  2017--real estate rental and leasing 13.1 %,manufacturing 10.37%,mining, quarying ,oil and gas 8.21%,,finance and insurance 7.07%,construction 7.07%,health care 6.63%,public administration6.28%, wholesale trade5.78%, retali trade 5.60%,educational services 5.21%, transportation 4.60%,information services3%, utilities 2.21%,Accomodation and food services2.15%,agricultry nad foresetry 1.53%, artsand entetainment o.77%.