Экономика Канады: Обзор и ключевые показатели

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The economy of Canada is a highly developed mixed economy, with the world's tenth largest economy as of 2023, and a nominal GDP of approximately US$2.117 trillion. In 2021, Canadian trade in goods and services reached $2.016 trillion. Canada's exports totalled over $637 billion, while its imported goods were worth over $631 billion, of which approximately $391 billion originated from the United States. Canada has a strong cooperative banking sector, with the world's highest per capita membership in credit unions. It ranks low in the Corruption Perceptions Index (14th in 2023) and "is widely regarded as among the least corrupt countries of the world". It ranks high in the Global Competitiveness Report (14th in 2019) and Global Innovation Indexes (15th in 2022). Canada's economy ranks above most Western nations on The Heritage Foundation's Index of Economic Freedom and experiences a relatively low level of income disparity. The country's average household disposable income per capita is "well above" the OECD average. Canada ranks among the lowest of the most developed countries for housing affordability Among OECD members, Canada has a highly efficient and strong social security system; social expenditure stood at roughly 23.1% of GDP. Since the early 20th century, the growth of Canada's manufacturing, mining, and service sectors has transformed the nation from a largely rural economy to an urbanized, industrial one. Like many other developed countries, the Canadian economy is dominated by the service industry, which employs about three quarters of the country's workforce. Among developed countries, Canada has an unusually important primary sector, of which the forestry and petroleum industries are the most prominent components. Many towns in northern Canada, where agriculture is difficult, are sustained by nearby mines or sources of timber. Canada spends around 1.70% of GDP on advance research and development across various sectors of the economy. Canada's economic integration with the United States has increased significantly since World War II. The Automotive Products Trade Agreement of 1965 opened Canada's borders to trade in the automobile manufacturing industry. In the 1970s, concerns over energy self sufficiency and foreign ownership in the manufacturing sectors prompted the federal government to enact the National Energy Program (NEP) and the Foreign Investment Review Agency (FIRA). The government abolished the NEP in the 1980s and changed the name of FIRA to Investment Canada to encourage foreign investment. The Canada – United States Free Trade Agreement (FTA) of 1988 eliminated tariffs between the two countries, while the North American Free Trade Agreement (NAFTA) expanded the free trade zone to include Mexico in 1994 (later replaced by the Canada–United States–Mexico Agreement). As of 2023, Canada is a signatory to 15 free trade agreements with 51 different countries. Canada is one of the few developed nations that are net exporters of energy. Atlantic Canada possess vast offshore deposits of natural gas, and Alberta hosts the fourth largest oil reserves in the world. The vast Athabasca oil sands and other oil reserves give Canada 13 percent of global oil reserves, constituting the world's third or fourth largest. Canada is additionally one of the world's largest suppliers of agricultural products; the Canadian Prairies are one of the most important global producers of wheat, canola, and other grains. The country is a leading exporter of zinc, uranium, gold, nickel, platinoids, aluminum, steel, iron ore, coking coal, lead, copper, molybdenum, cobalt, and cadmium. Canada has a sizeable manufacturing sector centred in southern Ontario and Quebec, with automobiles and aeronautics representing particularly important industries. The fishing industry is also a key contributor to the economy.

Productivity measures are key indicators of economic performance and a key source of economic growth and competitiveness. OECD's Compendium of Productivity Indicators, According to the definition above "MFP is often interpreted as the contribution to economic growth made by factors such as technical and organisational innovation". Measures of productivity include the gross domestic product (GDP) and total factor productivity.

Another productivity measure, used by OECD, is the long term trend in multifactor productivity (MFP) also known as total factor productivity (TFP). This indicator assesses an economy's "underlying productive capacity ('potential output'), itself an important measure of the growth possibilities of economies and of inflationary pressures". MFP measures the residual growth that cannot be explained by the rate of change in the services of labour, capital and intermediate outputs, and is often interpreted as the contribution to economic growth made by factors such as technical and organisational innovation. According to OECD's annual economic survey of Canada in June 2012, Canada has experienced weak growth of multi factor productivity (MFP) and has been declining further since 2002. One of the ways MFP growth is raised is by boosting innovation and Canada's innovation indicators such as business R&D and patenting rates were poor. Raising MFP growth is "needed to sustain rising living standards, especially as the population ages". Since 2010 productivity growth has picked up, almost entirely driven by above average multifactor productivity growth. However, productivity on the whole still lags behind the upper half of OECD countries such as the United States. Canada's productivity is now around the median OECD productivity, close to that of Australia. More can be done to increase productivity, such as increasing the productivity of capital through improving the capital stock to output ratio and capital quality. This could be achieved through the liberalization of internal trade barriers, as suggested in the OECD's latest Canadian economic survey.

The mandate of the central bank—the Bank of Canada is to conduct monetary policy that "preserves the value of money by keeping inflation low and stable". The Bank of Canada, a federal crown corporation, has the responsibility of Canada's monetary system. The inflation target was set at 2 per cent, which is the midpoint of an inflation range of 1 to 3 per cent. They established a set of inflation reduction targets to keep inflation "low, stable and predictable" and to foster "confidence in the value of money", contribute to Canada's sustained growth, employment gains and improved standard of living.

During the period that John Crow was Governor of the Bank of Canada—1987 to 1994— there was a worldwide recession and the bank rate rose to around 14% and unemployment topped 11%. Although since that time inflation targeting has been adopted by "most advanced world central banks",

As a result, interest rates and inflation eventually came down along with the value of the Canadian dollar. On July 15, 2015, the Bank of Canada announced that it was lowering its target for the overnight rate by another one quarter percentage point, to 0.5 per cent "to try to stimulate an economy that appears to have failed to rebound meaningfully from the oil shock woes that dragged it into decline in the first quarter". According to the Bank of Canada announcement, in the first quarter of 2015, the total Consumer price index (CPI) inflation was about 1 per cent. This reflects "year over year price declines for consumer energy products". Core inflation in the first quarter of 2015 was about 2 per cent with an underlying trend in inflation at about 1.5 to 1.7 per cent. The Chinese stock market had lost about US$3 trillion of wealth by July 2015 when panicked investors sold stocks, which created declines in the commodities markets, which in turn negatively impacted resource producing countries like Canada. The Bank's main priority has been to keep inflation at a moderate level. As part of that strategy, interest rates were kept at a low level for almost seven years. Since September 2010, the key interest rate (overnight rate) was 0.5%. In mid 2017, inflation remained below the Bank's 2% target, (at 1.6%) mostly because of reductions in the cost of energy, food and automobiles; as well, the economy was in a continuing spurt with a predicted GDP growth of 2.8 percent by year end. Early on July 12, 2017, the bank issued a statement that the benchmark rate would be increased to 0.75%. Following the COVID 19 pandemic, critics have pointed out that the Bank of Canada’s inflation targeting has had unintended consequences, such as fuelling an increase in home prices and contributing to wealth inequalities by supporting higher equity values.

The service sector in Canada is vast and multifaceted, employing about three quarters of Canadians and accounting for 70% of GDP. The largest employer is the retail sector, employing almost 12% of Canadians. The retail industry is concentrated mainly in a small number of chain stores clustered together in shopping malls. In recent years, there has been an increase in the number of big box stores, such as Walmart (of the United States), Real Canadian Superstore, and Best Buy (of the United States). This has led to fewer workers in this sector and the migration of retail jobs to the suburbs. The second largest portion of the service sector is the business service, and it employs only a slightly smaller percentage of the population. This includes the financial services, real estate, and communications industries. This portion of the economy has been rapidly growing in recent years. It is largely concentrated in the major urban centres, especially Toronto, Montreal and Vancouver (see Banking in Canada). The education and health sectors are two of Canada's largest, but both are primarily under the influence of the government. The health care industry has been quickly growing and is the third largest in Canada. Its rapid growth has led to problems for governments who must find money to fund it. Canada has an important high tech industry, and a burgeoning film, television, and entertainment industry creating content for local and international consumption (see Media in Canada). Tourism is of ever increasing importance, with the vast majority of international visitors coming from the United States. Casino gaming is currently the fastest growing component of the Canadian tourism industry, contributing $5 billion in profits for Canadian governments and employing 41,000 Canadians as of 2001.

Canada has access to cheap sources of energy because of its geography. This has enabled the creation of several important industries, such as the large aluminum industries in British Columbia and Quebec. Canada is also one of the world's highest per capita consumers of energy.

The electricity sector in Canada has played a significant role in the economic and political life of the country since the late 19th century. The sector is organized along provincial and territorial lines. In a majority of provinces, large government owned integrated public utilities play a leading role in the generation, transmission and distribution of electricity. Ontario and Alberta have created electricity markets in the last decade in order to increase investment and competition in this sector of the economy. In 2017, the electricity sector accounted for 10% of total national greenhouse gas emissions. Canada has substantial electricity trade with the neighbouring United States amounting to 72 TWh exports and 10 TWh imports in 2017. Hydroelectricity accounted for 59% of all electric generation in Canada in 2016, making Canada the world's second largest producer of hydroelectricity after China. Since 1960, large hydroelectric projects, especially in Quebec, British Columbia, Manitoba and Newfoundland and Labrador, have significantly increased the country's generation capacity. The second largest single source of power (15% of the total) is nuclear power, with several plants in Ontario generating more than half of that province's electricity and one generator in New Brunswick. This makes Canada the world's sixth largest electricity producer generated by nuclear power, producing 95 TWh in 2017. Fossil fuels provide 19% of Canadian electric power, about half as coal (9% of the total), and the remainder a mix of natural gas and oil. Only five provinces use coal for electricity generation. Alberta, Saskatchewan, and Nova Scotia rely on coal for nearly half of their generation, while other provinces and territories use little or none. Alberta and Saskatchewan also use a substantial amount of natural gas. Remote communities, including all of Nunavut and much of the Northwest Territories, produce most of their electricity from diesel generators at high economic and environmental costs. The federal government has set up initiatives to reduce dependence on diesel fired electricity. Non hydro renewables are a fast growing portion of the total, at 7% in 2016.

Canada possesses extensive oil and gas resources centered in Alberta, and the Northern Territories but is also present in neighboring British Columbia and Saskatchewan. The vast Athabasca oil sands give Canada the world's third largest reserves of oil after Saudi Arabia and Venezuela, according to USGS. The oil and gas industry represents 27% of Canada's total greenhouse gas emissions, an increase of 84% since 1990, mostly due to the development of the oil sands. The National Energy Policy of the early 1980s attempted to make Canada oil sufficient and to ensure equal supply and price of oil in all parts of Canada, especially for the eastern manufacturing base. This policy proved deeply divisive as it forced Alberta to sell low priced oil to eastern Canada. The policy was eliminated 5 years after it was first announced amid a collapse of oil prices in 1985. The new Prime Minister Brian Mulroney had campaigned against the policy in the 1984 Canadian federal election. One of the most controversial sections of the Canada–United States Free Trade Agreement of 1988 was a promise that Canada would never charge the United States more for energy than fellow Canadians.

Canada and the United States share a common trading relationship. Canada's job market continues to perform well along with the US, reaching a 30 year low in the unemployment rate in December 2006, following 14 consecutive years of employment growth. The United States is by far Canada's largest trading partner, with more than $1.7 billion CAD in trade per day in 2005. In 2009, 73% of Canada's exports went to the United States, and 63% of Canada's imports were from the United States. Trade with Canada makes up 23% of the United States' exports and 17% of its imports. By comparison, in 2005 this was more than U. S. trade with all countries in the European Union combined, and well over twice U. S. trade with all the countries of Latin America combined. Just the two way trade that crosses the Ambassador Bridge between Michigan and Ontario equals all U. S. exports to Japan. Canada's importance to the United States is not just a border state phenomenon: Canada is the leading export market for 35 of 50 U. S. states, and is the United States' largest foreign supplier of energy. Bilateral trade increased by 52% between 1989, when the U. S.–Canada Free Trade Agreement (FTA) went into effect, and 1994, when the North American Free Trade Agreement (NAFTA) superseded it. Trade has since increased by 40%. NAFTA continues the FTA's moves toward reducing trade barriers and establishing agreed upon trade rules. It also resolves some long standing bilateral irritants and liberalizes rules in several areas, including agriculture, services, energy, financial services, investment, and government procurement. NAFTA forms the largest trading area in the world, embracing the 405 million people of the three North American countries. The largest component of U. S.–Canada trade is in the commodity sector. The U. S. is Canada's largest agricultural export market, taking well over half of all Canadian food exports. Nearly two thirds of Canada's forest products, including pulp and paper, are exported to the United States; 72% of Canada's total newsprint production also is exported to the U. S.

At $73.6 billion in 2004, U. S. Canada trade in energy is the largest U. S. energy trading relationship, with the overwhelming majority ($66.7 billion) being exports from Canada. The primary components of U. S. energy trade with Canada are petroleum, natural gas, and electricity. Canada is the United States' largest oil supplier and the fifth largest energy producing country in the world. Canada provides about 16% of U. S. oil imports and 14% of total U. S. consumption of natural gas. The United States and Canada's national electricity grids are linked, and both countries share hydropower facilities on the western borders. While most of U. S. Canada trade flows smoothly, there are occasionally bilateral trade disputes, particularly in the agricultural and cultural fields. Usually these issues are resolved through bilateral consultative forums or referral to World Trade Organization (WTO) or NAFTA dispute resolution. In May 1999, the U. S. and Canadian governments negotiated an agreement on magazines that provides increased access for the U. S. publishing industry to the Canadian market. The United States and Canada also have resolved several major issues involving fisheries. By common agreement, the two countries submitted a Gulf of Maine boundary dispute to the International Court of Justice in 1981; both accepted the court's October 12, 1984 ruling which demarcated the territorial sea boundary. A current issue between the United States and Canada is the ongoing softwood lumber dispute, as the U. S. alleges that Canada unfairly subsidizes its forestry industry. In 1990, the United States and Canada signed a bilateral Fisheries Enforcement Agreement, which has served to deter illegal fishing activity and reduce the risk of injury during fisheries enforcement incidents. The U. S. and Canada signed a Pacific Salmon Agreement in June 1999 that settled differences over implementation of the 1985 Pacific Salmon Treaty for the next decade. Canada and the United States signed an aviation agreement during Bill Clinton's visit to Canada in February 1995, and air traffic between the two countries has increased dramatically as a result. The two countries also share in operation of the St. Lawrence Seaway, connecting the Great Lakes to the Atlantic Ocean. The U. S. remains Canada's largest foreign investor and the most popular destination for Canadian foreign investments. In 2018, the stock of U. S. direct investment in Canada totaled $406 billion, while the stock of Canadian investment in the U. S. totaled $595 billion, or 46% of the overall CDIA stock for 2018. This made Canada the second largest investing country in the U. S. for 2018 US investments are primarily directed at Canada's mining and smelting industries, petroleum, chemicals, the manufacture of machinery and transportation equipment, and finance, while Canadian investment in the United States is concentrated in manufacturing, wholesale trade, real estate, petroleum, finance, insurance and other services.

Canadian government debt, also called Canada's public debt, is the liabilities of the government sector. For 2019 (the fiscal year ending 31 March 2020), total financial liabilities or gross debt was $2434 billion for the consolidated Canadian general government (federal, provincial, territorial, and local governments combined). This corresponds to 105.3% as a ratio of GDP (GDP was $2311 billion). Of the $2434 billion, $1146 billion or 47% was federal (central) government liabilities (49.6% as a ratio of GDP). Provincial government liabilities comprise most of the remaining liabilities. According to Statistics Canada, total household credit as of July 2019 was CAD$2.2 trillion. According to Philip Cross of the Fraser Institute, in May 2015, while the Canadian household debt to income ratio is similar to that in the US, however lending standards in Canada are tighter than those in the United States to protect against high risk borrowers taking out unsustainable debt.

Province Unemployment ratepercentage of labour forceas of March 2024EmploymentAlberta 6.3%2,526,900British Columbia 5.5%2,847,800Manitoba 5.0%700,400Newfoundland and Labrador 10.1%243,700New Brunswick 7.8%390,900Nova Scotia 6.2%516,400 Ontario 6.7%7,970,500 Prince Edward Island 7.4%91,900 Quebec 5.0%4,515,200 Saskatchewan 5.4%597,100 Canada (national) 6.1%20,400,700

Export trade from Canada measured in US dollars. In 2021, Canada exported US$503.4 billion. That dollar amount reflects a 19.5% gain since 2017 and a 29.1% increase from 2020 to 2021. PartnerValueFractionUnited States $380.4 billion75.6%China $23 billion4.6%United Kingdom $12.9 billion2.6%Japan $11.5 billion2.3%Mexico $6.5 billion1.3%Germany $5.5 billion1.1%South Korea$4.5 billion0.9%Netherlands$3.8 billion0.8%France$3.2 billion0.6%Belgium$3.0 billion0.6%Hong Kong$2.8 billion0.6%Norway$2.5 billion0.5%Switzerland$1.6 billion0.5%India$2.35 billion0.5%Italy$2.1 billion0.4%

Import trade in 2017 measured in US dollars. PartnerValueFractionUnited States $222.0 billion 51.3%China $54.7 billion 12.7%Mexico $27.4 billion 6.3%Germany $13.8 billion 3.2%Japan $13.5 billion 3.1%United Kingdom $6.9 billion 1.6%South Korea $6.7 billion 1.5%Italy $6.3 billion 1.5%France $4.8 billion 1.1%Vietnam $3.9 billion 0.9%