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Canada

The economy of Canada is quite advanced and most of the people enjoy high standard of living. In fact,

Canada has an abundance of natural resources, such as forests, minerals, fish, and hydroelectric power, all of which has helped Canada focus their economic development on the export of raw materials and around 33.6 percent of its GDP is dedicated to exports. This has in turn led to the conservation of the resources, which is a top priority of the nation.

Since the recession of the early 1990s, The Canadian economy has grown more rapidly than the other developed countries. The success can be attributed to several factors, including low inflation, low interest rates, and a low Canadian dollar (with respect to other major currencies), all of which helped exports to grow. During the year from 1986 to 1995, the Canadian economy grew 20.4 percent and reached a GDP of C$776.3 billion, representing a per-capita income of C$25,900. In 1999 it was C$976.7 billion. The mining, communications, utilities, trade, and financial services sectors grew the most in output, while employment growth was greatest in nongovernmental services. At the same time, the proportion of GDP accounted for by federal government expenditure decreased from 23.1 to 15.2 percent, the result of the sale of several large government-owned corporations as well as reduced program spending.