Economy

As one of the leading economies of the world，Canada has a highly⁃developed industrial base that covers nearly all the major sectors of industrial production.

The Canadian manufacturing industry accounts for about 9％ of the nation’s GDP.Although the information technology industry has begun in recent years to replace some of the traditional industries and create new job opportunities for Canadians，the manufacturing sector remains a significant factor in the national economy.

Second to manufacturing within the industrial sector is the chemical industry，which is at the forefront of high technology in its manufacturing capability and adoption of innovative tools and processes.Chemical plants are operated in more than 100 communities across Canada，providing many job opportunities for local residents.In some places like Sarnia in Ontario，about 25％ of the labor force is directly dependent on the chemical industry for its livelihood.

The last three decades have seen a broad structural shift towards services in the Canadian economy.The service sector now generates about three quarters of Canada’s GDP，while providing three⁃quarters of job opportunities.

Abundant natural resources form another pillar of Canada’s economy.Canada has deposits of more than 60 kinds of minerals;it is the world’s leading producer of nickel，zinc，platinum，and asbestos，and the second⁃leading producer of uranium，gold，cadmium，and gypsum.It produces large quantities of copper，iron ore，potash，sulfur，silver，cobalt，and magnesium.A major share of these minerals is for export.It also has large reserve of oil and gas.Its oil reserve is the third largest in the world，comprising about 13％ of the world’s total oil reserve.It is one of the few developed countries which have a net export of energy.Foreign trade is crucial to Canada，contributing more than one quarter of the national income.

Exported goods also include forest products and agricultural products.Canada is richly endowed with forest resources.About 44％ of its territory，or 4.4 million square kilometers，is covered with dense forest，giving the country a thriving source of lumber for a wide range of industries.According to recent statistics，forestry and related industries provide with 10％ of Canada’s job opportunities and 14％ of foreign exchange earnings.Canadian paper industries supply one⁃third of the newsprint used in the world.

Canada’s agriculture，though contributing only about 1.8％ to the nation’s GDP，is significantly export⁃oriented，with farm exports accounting for 20％ of the country’s foreign exchange.The main agricultural products include wheat，oats，barley，canola，flaxseed and rye.

As a country washed by two oceans，Canada’s fisheries are also highly developed，and the country’s fishing fleet numbers about 4，000 vessels.

Finally，another important contributor to the Canadian economy is its energy industry.Canada is one of the world’s most richly endowed country in terms of energy resources.It not only has extensive water resources that offer great potential for developing hydro⁃electric power，but also plenty of petroleum，natural gas and uranium.In addition to exports of these materials，power generation and transmission to the United States also plays a significant role in the Canadian economy.