Canada's Economy
Explore Canada's economic strengths, trade relationships, and key industries.
Economic Overview
Canada has one of the world's major advanced economies and is a member of the Group of Seven (G7). It is a trading nation and one of the world's top trading nations.
The United States is by far Canada's largest trading partner. The two countries share the longest undefended border in the world. The Canada-United States-Mexico Agreement (CUSMA, formerly NAFTA) is one of the world's largest free trade agreements.
Canada's key economic sectors include: - Natural resources: Oil, natural gas, minerals, forestry, and fishing. Canada has the third-largest proven oil reserves in the world (Alberta oil sands). - Manufacturing: Automobiles, aerospace, food processing, and technology - Services: Financial services, telecommunications, tourism, and entertainment - Agriculture: Wheat, canola, livestock, and dairy
Canada is a world leader in science and technology, telecommunications, and hydroelectric power generation. The Canadian Space Agency and Canadian astronauts have contributed to space exploration.
Key Notes
- Canada is a G7 member with a major advanced economy
- The US is Canada's largest trading partner
- CUSMA (formerly NAFTA) governs North American trade
- Canada has the third-largest proven oil reserves (Alberta oil sands)
- Canada and the US share the longest undefended border in the world